India to be competitive due to vast market, says Scindia

The current global tariff environment notwithstanding, India is expected to stay competitive due to its vast domestic market, scale advantages, and focus on innovation, Union Minister Jyotiraditya Scindia has said, asserting that seen even from the lens of a comparative matrix of tariffs vis-a-vis other nations, India holds a more favourable position.

Scindia noted that given that other nations too face varying levels of tariffs, India will likely emerge “fiercely and much more competitive” across numerous products than before.

Meanwhile, India and the UK held discussions to push forward negotiations on the proposed free trade agreement to further strengthen bilateral economic ties.

To give an impetus to the talks, which are at an advanced stage, Commerce Minister Piyush Goyal has arrived in London for a two-day visit.

Business