Sanjay Kathuria
On April 2, President Donald Trump announced sweeping and unprecedented tariffs on U.S. trading partners, intensifying global economic uncertainty and triggering a sharp stock market decline in the United States and elsewhere. At the same time, China continues to face headwinds from the global “China+1” strategy, as countries seek to diversify their supply chains and reduce dependence on Chinese manufacturing—a concern that has grown with the escalation of U.S.-China trade tensions. India should seize this moment to set a bold new ambition: to become a more reliable trading partner to the world than either China or the United States. Its size and long-term potential lend credibility to such a vision. Realizing it, though, will require a fundamental rethinking and overhaul of India’s trade policy approach.
Trump has frequently called out India as the world’s “tariff king,” and this is not far from the truth. India is a tariff outlier. If the renewed debate on protectionism helps India understand that its trade policies are self-defeating, Trump might end up doing India, and the world, a huge favor.
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