India’s Opportunity Sometime next year India will promulgate its next five-year Foreign Trade Policy (FTP). Based on the past five years, India has been operating an anti-trade policy. Average tariffs on industrial goods have risen from an average 13.3 percent to 17.6 percent, and in agriculture the rise has been from 36.3 percent to 43.02 percent. Worse for India’s trading partners has been the uncertainty caused by constant changes in applied tariffs with a high bound tariff ceiling. Then there has been the addition of the GST, the IGST levy, the “additional duties” and the “special duties.”  Around 70 percent of imports are impacted, all in the goal of self-sufficiency. Meanwhile, its public sto...

TAGS – India, North America, Macroeconomics