In free trade U-turn, Modi raises India's import duties

Mumbai

LESS than a month after he declared to the World Economic Forum that India was open for business, Prime Minister Narendra Modi has raised import duties to their highest in three decades, setting the stage for a protracted trade war.

As he prepares to seek re-election next year, Mr Modi has been ensnared by a global wave of protectionism that could threaten the foreign di…