India’s goods trade deficit with China is now at a record high. This largely reflects rising goods imports from China which, while bringing economic benefits in some areas, are also raising concerns over the threat posed to domestic industry. Given India’s low reliance on demand from China and India’s precedent in enacting anti-dumping measures, there is a good chance that policymakers will raise tariffs further and potentially introduce more industrial policies if low-cost imports from China continue to rise.
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