In free trade U-turn, Modi raises India's import duties
He has made it more expensive to import parts for cars, cameras, televisions, electricity meters, smartphones
Fri, Feb 16, 2018 - 5:50 AM
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 direct investments India needs to achieve double-digit growth.
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.