India should declare unilateral free trade2 min read . Updated: 28 Jul 2014, 01:36 PM IST
India should take advantage of western protectionism, not erect competing trade barriers
Imagine a country like the US that taxes its citizens to heavily subsidize the production of agricultural goods that would otherwise be unprofitable to produce. This leads to surplus production, and allows buyers of the good, both within and outside the US, to purchase of the good at a lower price. In effect, a group of tax-payers in the US are funding the spending habits of a different group consisting of both Americans and foreigners.
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