Bringing down import tariffs by at least 50 per cent holds the key to achieve competitiveness in India said Montek Singh Ahluwalia, Former Deputy Chairman, Planning Commission of India.
Stating that the Indian economy has not witnessed “fast enough” growth, Ahluwalia said “the underlying challenge is the ineffectiveness to translate broad uncontroversial objectives of competitiveness and growth into concrete and actionable policy programmes yielding results in a time-bound manner.”
He was speaking at a webinar on “improving India’s competitiveness for inclusive economic growth” by CUTS International on Tuesday, 9th March.
The session was moderated by Pradeep Mehta, Secretary General, CUTS International, who articulated the vision of Atma-Samman, or self-confidence, of the domestic industries being the driver for true Atma-nirbharta and pursuing global value chains.
Mehta also pointed out that several committees etc have gone into the issue of improving India’s competitiveness but every new committee ends up reinventing the wheel rather than enquire into the earlier progress. It thus wastes taxpayers’ money and delays desired reforms.