Indian business community felt it would be swamped by imports with low duties, which it would not be able to compete with. The govt decided that it cannot afford to take the chance
Here's a selection of Business Standard opinion pieces for the day
Open-ended tariff protection will affect competitiveness
The Bombay Club of the 1990s had lost its battle against the Rao-Manmohan Singh duo's tariff reduction policy, but has bounced back with greater energy now, thanks to the present regime's backing
Here's a selection of Business Standard opinion pieces for the day
Using the new tools, the claims for lower duty rates for imports under trade agreements may be put to greater scrutiny
The call for self-reliant India conveys reducing our dependence on others for goods, services, or even investment
If we turn protectionist, I don't know how can we be an exporting power. Self-sufficient exporting powerhouse is an oxymoron," he said.
Budget continues the backward slide on trade
Budget should reverse two-year slide towards closed economy
As confidence of member nations plummets, reforming the global body itself forms the core agenda for many countries
This is a wider national cause and any buoyancy in the collections will benefit both the Centre and the states
China, Russia, India, Brazil and South Africa called for greater inter-BRICS trade and investment.
Some experts, in addition to the government, have maintained that the reason for the walkout is India's adverse trade balance. However, many critics view this as a protectionist step
In the WTO ruling, a three-member arbitration panel said Chinese exporters suffered impairment to trade valued at $3.579 billion annually
Nations still differ widely on the key issues that will be discussed at the meeting being held in India on May 13 and 14