India’s Tariff Cuts: Routine Trade Strategy Not An Extraordinary Step
India’s tariff reduction is not seen as extraordinary but rather a continuation of past agreements with developed countries. Similar deals have been made with Australia, UAE, Switzerland, and Norway, and negotiations are ongoing with the EU and UK, reflecting broader trade relations.
India’s recent agreement to lower tariffs is characterized as a routine development, rather than an extraordinary decision, according to a government source. This action aligns with India’s historical approach, as similar tariff cuts have been instituted with various developed nations over recent years.
The government source highlighted that India has previously established agreements with countries such as Australia, the United Arab Emirates, Switzerland, and Norway. Furthermore, negotiations are reportedly ongoing with the European Union and the United Kingdom, indicating India’s proactive engagement with multiple international partners.
In light of these developments, ongoing talks with the United States should also be understood as part of this broader diplomatic landscape. Such negotiations reflect India’s commitment to enhancing trade relations and economic collaboration with global partners.
In summary, India’s decision to reduce tariffs is framed as a continuation of its previous trade strategies rather than an exceptional occurrence. With similar agreements having been made with developed countries and active negotiations with the EU and UK, the deliberations with the United States represent a standard diplomatic effort in fostering trade relations.
Original Source: www.livemint.com
