US Tariffs: India's Wake-Up Call for Bold Reforms
India should view US tariffs as an opportunity for substantial economic reforms and market diversification, asserted former Niti Aayog CEO Amitabh Kant. Despite geopolitical tensions, Kant believes India has potential growth prospects. He highlighted administrative hurdles faced by startups and urged improved efficiency in GST registration processes.
- Country:
- India
India should consider the recent imposition of US tariffs as a crucial signal for urgent economic reforms and strategic market diversification, suggested former Niti Aayog CEO Amitabh Kant on Wednesday.
During the BN Memorial Lecture organized by the IRS (C&IT) Association, Kant remarked that the US tariffs present a significant opportunity for India in its growth trajectory. He dismissed the notion that Russian oil imports are the reason for the tariff hikes, pointing out that countries like China and Turkey import more Russian oil yet are not similarly targeted.
Kant emphasized that India must address the disruption in the global supply chain by enhancing administrative efficiency and production infrastructure. He further highlighted the sluggish processes startups face in India, urging authorities to expedite GST registration to foster business growth.
(With inputs from agencies.)
Google News