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  • Urnisha Ganguly

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    Urnisha Ganguly
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    The document discusses the effects of higher import duties on domestic manufacturers. While tariff increases can initially protect domestic industries, long-term high import duties risk making the country's economy less innovative and more costly over time. Industries should view any tariff hikes as temporary and work to improve cost competitiveness during that period to avoid permanently reduced global competitiveness from indefinite high tariff protection.

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    The document discusses the effects of higher import duties on domestic manufacturers. While tariff increases can initially protect domestic industries, long-term high import duties risk making the country's economy less innovative and more costly over time. Industries should view any tariff hikes as temporary and work to improve cost competitiveness during that period to avoid permanently reduced global competitiveness from indefinite high tariff protection.

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    Download as DOCX, PDF, TXT or read online from Scribd
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    11 views1 page

    Urnisha Ganguly

    Uploaded by

    Urnisha Ganguly
    The document discusses the effects of higher import duties on domestic manufacturers. While tariff increases can initially protect domestic industries, long-term high import duties risk making the country's economy less innovative and more costly over time. Industries should view any tariff hikes as temporary and work to improve cost competitiveness during that period to avoid permanently reduced global competitiveness from indefinite high tariff protection.

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    of 1

    Name: Urnisha Ganguly

    Sec: D
    Roll No.: 25182
    Sub- International Business

    Higher import duty will protect domestic manufacturers.


     From previous instances of similar hike, if we become comfortable with
    the high tariff protection regime and discredited policy of import, this
    policy may make India a low-innovation, high-cost manufacturing
    economy.
     There should be a clear understanding within the industry that these tariff
    increases are temporary and they have to improve their cost
    competitiveness during this period of high tariff imposition.
     Tariff protection without a clear endgame has the danger of making us
    less competitive in the global scenario.

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