Will protectionism help govt’s ‘Make in India’ plan?
Govt’s bid to hike tariffs on various goods, especially industrial supplies, to boost local production may impact the domestic industries using them as inputs
MUMBAI : Nirmala Sitharaman made a clear embrace of protectionism in her maiden Union Budget. The list of items on which tariffs have been hiked or introduced is far longer than the list of tariff reductions. These tariff hikes, which are part of a broader push towards protectionism and promoting ‘Make in India’, will have important implications for Indian industry and the economy.