India’s tariff cuts are not unprecedented, but part of ongoing trade strategies with other nations. Similar agreements have been made with Australia, UAE, Switzerland, and Norway, with ongoing negotiations with the EU and UK.
India’s recent decision to reduce its tariffs should not be regarded as an extraordinary measure, according to a government source reported by News 18 on Saturday. This move aligns with India’s previous tariff adjustments made with other developed nations, indicative of a consistent trade strategy.
The source elaborated that India has successfully negotiated similar agreements with several countries, including Australia, the United Arab Emirates, Switzerland, and Norway. Furthermore, discussions are reportedly ongoing with the European Union and the United Kingdom, alongside other trade partners.
It was emphasized that the negotiations with the United States should be understood within the broader context of India’s existing trade agreements. This perspective highlights India’s proactive approach to enhancing international trade relations and tariff negotiations.
In summary, India’s tariff reduction aligns with its historical trade practices and ongoing negotiations with multiple countries. This approach signifies a strategic effort to foster stronger international trade relationships rather than a departure from established protocols. Overall, the focus remains on strengthening trade ties with various global partners, including the United States.
Original Source: www.livemint.com
