India Economics

India Economics Weekly

10 August, 2018

Import duty hikes, monsoon update

Recent hikes to import duties on various textiles products appear to be an attempt by Prime Minister Modi and the BJP to shore up popular support ahead of the general election in early 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 to compete globally.

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