Conversations about trade, both globally and in India, are dominated by tariffs. India, after a period of increasing tariffs across the board, has signalled in recent months, including through the Union Budget, that import duties will now be lowered. The justification for this shift in policy is, correctly, that it will enable value addition within India and allow Indian producers to become part of global supply chains. However, economic openness and integration are not a function of tariffs alone. Regulations, restrictions, and quotas also play a role — these are generally called “non-tariff barriers” to trade. Policymakers in New Delhi

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