During a joint session at India Economic Summit, both ministers had a stern exchange of words over some of the Indian polices and regulatory mechanisms.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
Secretary Wilbur Ross has said that India is one of the most – if not the most – protectionist countries in the world. Apart from the trade disputes India and the US are trying – so far unsuccessfully – to resolve, that is not a good situation for the Indian economy to be in. Exports are stagnant, important sectors are sluggish, global competitiveness is falling across the board. These are the big picture interventions a federal government – working closely with state governments – is required to make.
Secretary Wilbur Ross has said that India is one of the most – if not the most – protectionist countries in the world. Apart from the trade disputes India and the US are trying – so far unsuccessfully – to resolve, that is not a good situation for the Indian economy to be in. Exports are stagnant, important sectors are sluggish, global competitiveness is falling across the board. These are the big picture interventions a federal government – working closely with state governments – is required to make.