Business Standard

Modi - the protectionist: 30-year high import duty to spur 'Make In India'

Trump signaled tit-for-tat duties against India's barriers on motorcycles, while the German Ambassador to India, Martin Ney, questioned the decision to raise customs duty on the import of auto parts

Modi, WEF 2018, Davos
Premium

PM Narendra Modi at WEF 2018 in Davos | Photo: PTI

Archana Chaudhary and Anirban Nag | Bloomberg
Less than a month after he declared to the World Economic Forum that India was open for business, Prime Minister Narendra Modi has raised import duties to their highest in three decades, setting the stage for a protracted trade war.

As he prepares to seek re-election next year, Modi has been ensnared by a global wave of protectionism that could threaten the foreign direct investments India needs to achieve double-digit growth. He has made it more expensive to import parts for automobiles, cameras, televisions, electricity meters and smartphones, risking trade disputes from allies like the US and Germany to rivals like

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in