Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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        LATEST NEWS UPDATES | Fix inverted tariff structures to boost industrial growth in India -C Veeramani and Anwesha Basu    </title>
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    <h1 class="cat-box-title">Fix inverted tariff structures to boost industrial growth in India -C Veeramani and Anwesha Basu</h1>
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		 Published on</span><span class="text-date"> Jan 27, 2021</span>
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                            <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>Correcting import-duty anomalies will attract foreign firms to set up assembly bases here and lift our global competitiveness</em></p><p style="text-align:justify">A steady decline in import tariff rates in manufacturing industries had been an important feature of India&rsquo;s economic reforms during the 1990s and 2000s. The average import tariff rate was reduced from about 84% in 1990 to the lowest-ever level of 8.6% in 2010. Consequently, imports of goods plus services as a percentage of India&rsquo;s gross domestic product (GDP), which is essentially a measure of import openness, steadily increased from 8.5% in 1991 to 30.6% in 2012. The period since 2010, however, witnessed a gradual increase in import tariff rates.</p><p style="text-align:justify">A well known result in economics, referred to as the Lerner Symmetry Theorem, states that import tariffs generally act as a tax on exports. In other words, a tariff on imports disincentivizes exports, just the way a direct tax on exports does. Indeed, exports of goods and services as a percentage of India&rsquo;s GDP decreased from a peak of 25% in 2012 to 18.6% in 2019. This is a clear reversal of the trends observed during the first two decades of economic reforms. It is important to note that the decline of India&rsquo;s export openness since 2012 was not a compulsion imposed by conditions prevailing in the rest of the world; the ratio of world trade to GDP remained unchanged at around 30% after 2012. During 2000-2011, India&rsquo;s exports recorded high annual growth rates of 21% and 24%, respectively, for goods and services. However, exports of goods completely stagnated&mdash;with an annual growth rate of almost 0%&mdash;during 2012-2019, while the growth rate of services exports declined to 5.9%. The latest available data shows that exports of goods and services declined by 15.7% and 8.1%, respectively, during April-December 2020. For imports, the pace of decline was faster, with falls of 29.1% and 14%, respectively, for goods and services.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html" title="https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html">click here</a> to read more.</p>                                                           
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    <br><a href="https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html" class="re" target="_blank">Livemint.com, 27 January, 2021, https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html</a><div class="clear"></div>
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                            <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>Correcting import-duty anomalies will attract foreign firms to set up assembly bases here and lift our global competitiveness</em></p><p style="text-align:justify">A steady decline in import tariff rates in manufacturing industries had been an important feature of India&rsquo;s economic reforms during the 1990s and 2000s. The average import tariff rate was reduced from about 84% in 1990 to the lowest-ever level of 8.6% in 2010. Consequently, imports of goods plus services as a percentage of India&rsquo;s gross domestic product (GDP), which is essentially a measure of import openness, steadily increased from 8.5% in 1991 to 30.6% in 2012. The period since 2010, however, witnessed a gradual increase in import tariff rates.</p><p style="text-align:justify">A well known result in economics, referred to as the Lerner Symmetry Theorem, states that import tariffs generally act as a tax on exports. In other words, a tariff on imports disincentivizes exports, just the way a direct tax on exports does. Indeed, exports of goods and services as a percentage of India&rsquo;s GDP decreased from a peak of 25% in 2012 to 18.6% in 2019. This is a clear reversal of the trends observed during the first two decades of economic reforms. It is important to note that the decline of India&rsquo;s export openness since 2012 was not a compulsion imposed by conditions prevailing in the rest of the world; the ratio of world trade to GDP remained unchanged at around 30% after 2012. During 2000-2011, India&rsquo;s exports recorded high annual growth rates of 21% and 24%, respectively, for goods and services. However, exports of goods completely stagnated&mdash;with an annual growth rate of almost 0%&mdash;during 2012-2019, while the growth rate of services exports declined to 5.9%. The latest available data shows that exports of goods and services declined by 15.7% and 8.1%, respectively, during April-December 2020. For imports, the pace of decline was faster, with falls of 29.1% and 14%, respectively, for goods and services.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html" title="https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html">click here</a> to read more.</p>                                                           
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Correcting import-duty anomalies will attract foreign firms to set up assembly bases here and lift our global competitiveness

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    <h1 class="cat-box-title">Fix inverted tariff structures to boost industrial growth in India -C Veeramani and Anwesha Basu</h1>
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                            <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>Correcting import-duty anomalies will attract foreign firms to set up assembly bases here and lift our global competitiveness</em></p><p style="text-align:justify">A steady decline in import tariff rates in manufacturing industries had been an important feature of India&rsquo;s economic reforms during the 1990s and 2000s. The average import tariff rate was reduced from about 84% in 1990 to the lowest-ever level of 8.6% in 2010. Consequently, imports of goods plus services as a percentage of India&rsquo;s gross domestic product (GDP), which is essentially a measure of import openness, steadily increased from 8.5% in 1991 to 30.6% in 2012. The period since 2010, however, witnessed a gradual increase in import tariff rates.</p><p style="text-align:justify">A well known result in economics, referred to as the Lerner Symmetry Theorem, states that import tariffs generally act as a tax on exports. In other words, a tariff on imports disincentivizes exports, just the way a direct tax on exports does. Indeed, exports of goods and services as a percentage of India&rsquo;s GDP decreased from a peak of 25% in 2012 to 18.6% in 2019. This is a clear reversal of the trends observed during the first two decades of economic reforms. It is important to note that the decline of India&rsquo;s export openness since 2012 was not a compulsion imposed by conditions prevailing in the rest of the world; the ratio of world trade to GDP remained unchanged at around 30% after 2012. During 2000-2011, India&rsquo;s exports recorded high annual growth rates of 21% and 24%, respectively, for goods and services. However, exports of goods completely stagnated&mdash;with an annual growth rate of almost 0%&mdash;during 2012-2019, while the growth rate of services exports declined to 5.9%. The latest available data shows that exports of goods and services declined by 15.7% and 8.1%, respectively, during April-December 2020. For imports, the pace of decline was faster, with falls of 29.1% and 14%, respectively, for goods and services.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html" title="https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html">click here</a> to read more.</p>                                                           
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    <br><a href="https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html" class="re" target="_blank">Livemint.com, 27 January, 2021, https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html</a><div class="clear"></div>
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Fix inverted tariff structures to boost industrial growth in India -C Veeramani and Anwesha Basu

Published on Jan 27, 2021   Modified on Jan 28, 2021

-Livemint.com Correcting import-duty anomalies will attract foreign firms to set up assembly bases here and lift our global competitiveness A steady decline in import tariff rates in manufacturing industries had been an important feature of India’s economic reforms during the 1990s and 2000s. The average import tariff rate was reduced from about 84% in 1990 to the lowest-ever level of 8.6% in 2010. Consequently, imports of goods plus services as a percentage of India’s gross domestic product (GDP), which is essentially a measure of import openness, steadily increased from 8.5% in 1991 to 30.6% in 2012. The period since 2010, however, witnessed a gradual increase in import tariff rates. A well known result in economics, referred to as the Lerner Symmetry Theorem, states that import tariffs generally act as a tax on exports. In other words, a tariff on imports disincentivizes exports, just the way a direct tax on exports does. Indeed, exports of goods and services as a percentage of India’s GDP decreased from a peak of 25% in 2012 to 18.6% in 2019. This is a clear reversal of the trends observed during the first two decades of economic reforms. It is important to note that the decline of India’s export openness since 2012 was not a compulsion imposed by conditions prevailing in the rest of the world; the ratio of world trade to GDP remained unchanged at around 30% after 2012. During 2000-2011, India’s exports recorded high annual growth rates of 21% and 24%, respectively, for goods and services. However, exports of goods completely stagnated—with an annual growth rate of almost 0%—during 2012-2019, while the growth rate of services exports declined to 5.9%. The latest available data shows that exports of goods and services declined by 15.7% and 8.1%, respectively, during April-December 2020. For imports, the pace of decline was faster, with falls of 29.1% and 14%, respectively, for goods and services. Please click here to read more.

Livemint.com, 27 January, 2021, https://www.livemint.com/budget/opinion/fix-inverted-tariff-structures-to-boost-industrial-growth-in-india-11611764193419.html

Tagged with: Tariff Rate Tariff Structure Import Duties Manufacturing Sector Growth Manufacturing Sector Inverted Tariff Structures Network Products

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