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India needs to cut tariffs for its own good, says Niti CEO

| Agencies | Feb 22, 2025, 03:56 IST

Niti Aayog CEO BVR Subrahmanyam emphasized that India must reduce... Read More

NEW DELHI: Tariff does not protect any country and India needs to cut tariffs for its own good, irrespective of who tells India to do so, Niti Aayog CEO BVR Subrahmanyam said at an event on Friday.

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Subrahmanyam said that being open to the world has to be among the top five priorities of India if it wants to become a developed country.

To cut tariffs, India must complete trade agreements with the EU, the UK and other major economies, he added.

He stressed deregulation at both central and state levels are critical for making India a part of the global supply chains. There is interest in India but people visit, see and fly to other countries, he said.

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Top Comment

K Sridhar

6 hours ago

None of the Indian industries like to face competition especially from MNCs. In fact, it is to them and their lobbying that the govt has brought in high tariff barriers on imports. They are forever ready to form "unofficial cartels" to continue to fleece the people. Despite reaching "economies of scale" in production, most of them will never pass on the benefits of lower pricing to the people. Its no wonder that they do not want competition from FD investors, who are anyway put off due to high tariff barriers and unfriendly "ease of doing business" policies of the govt. The govt must realize that healthy competition, lower tariffs and investor friendly policies will bring in innovations and lower costs of various productsin the country.

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