Summary: NITI Aayog CEO BVR Subrahmanyam emphasized that tariffs do not protect any country and that India must reduce them for its own benefit. Speaking at the AIMA Foundation Day event, he highlighted the need for trade agreements with major economies like the EU and UK to enhance India’s global competitiveness. He also stressed the importance of deregulation at both central and state levels to increase India’s participation in global supply chains. Subrahmanyam noted that international businesses often choose alternatives like Indonesia and Vietnam over India, benefiting from the “China plus one” strategy.
NITI Aayog CEO BVR Subrahmanyam has emphasized that tariffs do not protect any country and that India must reduce them for its own benefit. Speaking at the 69th Foundation Day event of the All India Management Association (AIMA), he highlighted the need for greater openness to help India achieve developed nation status.
Subrahmanyam stressed the urgency of completing trade agreements with major economies such as the European Union and the United Kingdom. Lowering tariffs, he noted, would enhance India’s trade relations and competitiveness on a global scale.
The NITI Aayog CEO also underscored the importance of deregulation at both central and state levels. He argued that easing regulatory constraints is crucial for increasing India’s participation in global supply chains.
According to Subrahmanyam, many international businesses consider India as an investment destination but ultimately choose alternatives like Indonesia, Vietnam, or Turkey. These countries have successfully leveraged the “China plus one” strategy to attract foreign investments.
His remarks reinforce the necessity of policy changes to make India a more attractive and competitive player in the global economy.
Last Updated on Tuesday, February 25, 2025 6:29 am by Aarti Kumari
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