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LATEST NEWS UPDATES | India’s export opportunities could be significant even in a post-COVID world -Arvind Subramanian and Shoumitro Chatterjee

India’s export opportunities could be significant even in a post-COVID world -Arvind Subramanian and Shoumitro Chatterjee

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published Published on Oct 14, 2020   modified Modified on Oct 16, 2020

-The Indian Express

Arvind Subramanian, Shoumitro Chatterjee write: Our growth model has been export-led and should not be abandoned. Export opportunities in general and in specific sectors could be significant even in a post-COVID world.

India’s intellectual and policy community has embraced atmanirbharta. This inward turn — actually return — amounts to abandoning two core principles of the post-1991 consensus: Export-orientation on the macro-economic side, and slow but steady liberalisation on the trade side. Is the inward turn strong? Is the underlying diagnosis-cum-prognosis correct? Will it work? Based on new research, our simple answers are, respectively: Yes; no; and not really.

Let’s start with some key facts. The inward turn is most evident in trade policies aimed at promoting domestic manufacturing. Leaving aside the spate of China-related restrictions, tariffs have been increased substantially, trade agreements have been put on hold, and a spate of production subsidies are being offered.

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The Indian Express, 14 October, 2020, https://indianexpress.com/article/opinion/columns/india-trade-economy-coronavirus-impact-covid-6723899/


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