India Economics

India Chart Book

23 February, 2018

Import duty hikes unlikely to aid local manufacturing

Recent hikes to import duties on various goods appear to be an attempt by Prime Minister Modi and the BJP to shore up popular support ahead of a clutch of state elections this year, and the general election in 2019. But while the moves may help some local manufacturers, they are likely to harm those that rely on the affected imports, or on products that are hit by retaliatory tariffs. The import duty hikes also do nothing to remove the constraints that currently make it hard for Indian companies

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