What explains India's high import traiffs
SummaryLow import duties need not boost exports and a selective trade-pact approach could help us replicate other success stories
Decoding India’s tariff and trade policy has become increasingly difficult for trade experts. Conventional trade theories say that trade liberalization through tariff reduction would lead to greater market integration with the world economy. Yet, over the years, India seems to have increased import tariffs for selective products. According to the World Trade Organization’s (WTO) Tariff Profile for 2021, India has one of the highest average tariffs of 15% in the Asia-Pacific region.