Navigating Challenges: India's Strategic Approach to Global Trade Dynamics
Former RBI Governor D Subbarao cautions that 'Make in India' should not evolve into self-sufficiency, potentially deterring investment and hindering productivity. He critiques U.S. tariffs as detrimental to India's export strategy and emphasizes strategic global trade partnerships while advocating for calculated negotiations in sensitive sectors like agriculture and energy.
- Country:
- India
Former RBI Governor D Subbarao expressed concerns that transforming 'Make in India' into a self-sufficient strategy might deter foreign investments and reduce productivity.
He criticized the 50% tariffs imposed by the U.S. on Indian exports, calling it a significant impediment to India's export ambitions and global trade aspirations.
Subbarao emphasized the need for strategic self-reliance in sensitive areas, urging India to maintain open trade relations and strategic partnerships, particularly in labor-intensive sectors, while navigating the global trade landscape pragmatically.
(With inputs from agencies.)
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