Integration with global value chains will require a rethink of our high and uncertain tariffs as well as bolder trade alliances
Various aspects of globalization are being rethought all over the world, and this includes rethinking trade policy. India is also going through this process. The ministry of commerce is working on a new trade policy to be unveiled in September. It would do well to give careful consideration to Professor Amita Batra’s just published book, India’s Trade Policy in the 21st century (Routledge, London, 2022), which has important messages for policy.