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India has highest tariff rate among new Indo-Pacific bloc, shows data

The IPEF members account for around a third of India's exports

IPEF
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US President Joe Biden delivers remarks along with Indias Prime Minister Narendra Modi and Japans Prime Minister Fumio Kishida during the Indo-Pacific Economic Framework for Prosperity (IPEF) launch event at Izumi Garden Gallery in Tokyo (Photo: Reut

Sachin P Mampatta Mumbai
India charges higher tariffs on trade than any of the other 12 members of the Indo-Pacific Economic Framework for Prosperity (IPEF).

The tariff for India is 9.4 per cent compared to a median of 3.1 per cent for the other countries, which came together in an economic partnership announced on Monday. While the contours of the partnership remain broad, it is seen to be a group to potentially counter China’s influence in the region through Regional Comprehensive Economic Partnership (RCEP) and other agreements. It is also seen as an effort to rebuild US influence in the region after it pulled

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First Published: May 24 2022 | 8:42 PM IST

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