"Protection Cannot Be In Perpetuity," Says Chief Economic Adviser

Is India turning protectionist or opening up? Chief Economic Adviser V. Anantha Nageswaran says it's not an either-or choice. Explaining the economic logic behind the Union Budget and recent trade deals, he argues that self-reliance does not mean keeping customs duties high. Instead, tariffs must be carefully calibrated, with lower duties on key inputs to help domestic industries become globally competitive. He stresses that protection cannot be permanent and must be linked to export performance. In a world growing more protectionist, India is adopting a balanced strategy, protecting where necessary, opening where beneficial, and pursuing competitiveness through smart trade policy.