India's Protectionist Policies Under Fire Globally, Criticized by IMF and Economist Arvind Panagariya
Published on 6.2.25
India's Protectionist Policies Under Fire Globally
India's trade policy has been under scrutiny in recent times, with the country facing a global backlash due to its long-standing tariff barrier policies. The IMF has also downgraded its growth projections for India, citing the country's protectionist policies as a major concern.
According to Arvind Panagariya, an economist at Columbia University, India's trade policy has been a significant obstacle to increasing trade with other nations. He notes that India's tariff barriers have limited the country's ability to integrate into the global economy.
The US tariffs on Indian goods are expected to have a significant impact on India's economy, with some estimates suggesting that they could lead to a decline in bilateral trade by up to 10%. This development is likely to further complicate India's efforts to attract foreign investment and boost exports.