The current global tariff environment will not make India less competitive and will continue to be competitive due to its large domestic market, economies of scale, and it is a country that is very innovative, Union Minister Jyotiraditya Scindia said. Scindia also highlighted India’s advantageous disposition vis-à-vis other countries even from within the framework of comparative tariff matrices, and said India will grow sturdier in the international market.
According to a recent interview, Scindia, the Minister for Communications and the Minister for Development of the North Eastern Region (DoNER), said that nations all over the world are facing diverse tariff levels. In such a situation, India is very likely to prosper ‘fiercely and much more competitively’ across a wider gamut of products. According to him, India’s booming domestic market has already lured the majors from all over the world, and the country’s economic momentum is being driven further by a government-prodded takeoff in manufacturing and innovation.
“India is competitive, I strongly believe India will remain competitive, irrespective of the cost of raw material globally,” he added. “We are able to reach a vast market with our economies of scale and a culture of innovation.” Scindia said, “India’s competitive edge will even hold up when compared against other nations.”
Responding to a query regarding the effect of US tariffs, the minister said that one has to look at the issue through the prism of a comparative matrix. If a country that used to outcompete us now has tariffs twice ours, the world reverts in our favor. He elaborated that it is essential to gauge competitiveness not just from the Indian side, but that of global peers.
It believes that India, using its scale, innovation, and proactive policies, will increase its competitiveness in many areas and will grow its economy strongly in the face of international trade challenges.
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