Though the Trump tariffs represent unilateral action by the United States and do not adhere to the global trade principles of the World Trade Organization, they have also spurred major soul-searching in India about what the country can do to become more globally competitive.
Industrial associations, corporate leaders, and senior economists have all called for major next-generation reforms in areas including land acquisition, power costs, taxes, compliance red tape, and labour laws — all of which would lead to a substantial improvement in the ease of doing business, while also enhancing the basic competitiveness of Indian companies.
Meanwhile, policymakers have
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