USTR, made in India

India needs an apex body for trade negotiations

India’s decision to stay away from the Regional Comprehensive Economic Partnership (RCEP), at least for now, has raised serious concerns among economists and policy analysts. While the talking heads of the government are calling it a bold decision, the fact is that Indian exports to RCEP countries will suffer because of higher tariffs. Protecting domestic businesses from competition and raising tariffs will not help. India tried this for decades with disastrous consequences before the start of liberalisation in the 1990s. It can be argued without any doubt that similar policies are unlikely to yield different results now. India is now