Business Standard

Govt's move to protect industry ignores both economic theory and history

Those who wish to blindly ape the Donald Trump-era United States' trade policy clearly have never bothered to think hard about the economic consequences of their actions in India

illustration:  Ajay Mohanty
Premium

illustration: Ajay Mohanty

Mihir S Sharma
When Narendra Modi won a historic landslide victory in 2014, many argued that he would take the process of economic reforms forward. Particularly excited were those exhausted by years of making the case for structural change in a political environment where multiple players appeared to possess veto powers on progress. It was considered likely that, given his mandate, Mr Modi would be able to take bigger and more influential steps than had hitherto been possible.

The sad twist is this: The occasions that Mr Modi has shifted policy clearly, the steps so taken have not been the sort that reformists

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 26 2018 | 4:51 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com