Customs reform: How a standard rate of 5% import duty could sharpen India’s export edge
The goal now should be to set low and uniform duties that do not distort value generation at any stage of production. A standard rate of 5%, say, could be applied to imports. This would help sectors emerge that do not exist right now but could be brought to competitive scale by new entrants, aided perhaps by industrial-policy incentives if they need to be nurtured.
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