Rethink trade levies for global value chain integration
Misapplied remedial duties distort trade pacts and harm ’Make in India’ instead of aiding our efforts
Trade policy experts have debated India’s past experiences with free trade agreements (FTAs), like the one with ASEAN. While many concluded that the country has not gained from such agreements, only a few discussions focused on why not. With a target of exporting $1 trillion worth of goods by 2030 and a renewed focus on trade agreements, let us reassess why we have not gained from our previous FTAs and how anti-dumping duties (ADDs) and countervailing duties (CVDs) have worked against India’s integration in global value chains (GVCs) and the country’s goal of becoming atmanirbhar or self-reliant.