New Delhi, July 1 (SocialNews.XYZ) India’s position as the world’s fastest-growing economy gives it the confidence to stand firm against tariff pressures and adopt policies that protect its long-term interests, Raymond Vickery, Senior Associate at the Centre for Strategic and International Studies (CSIS) and former US Assistant Secretary of Commerce said on Friday.
Speaking exclusive to IANS on the impact of US President Donald Trump’s proposed tariff measures, Vickery stressed that India should not succumb to transactional approaches that focus only on immediate gains, but instead work towards building sustainable, mutually beneficial trade relationships.
He pointed out that India’s trade deal with the UK serves as a good example, as it offers stability, lowers tariffs, and addresses the needs of both economies, enabling businesses to plan for the future.
This, he said, is in stark contrast to the unpredictable nature of Trump’s trade policies, which make long-term planning difficult.
According to Vickery, Trump’s stance towards India reflects a lack of appreciation for its economic potential and a short-sighted view that fails to recognise the benefits of a medium- or long-term partnership.
Highlighting India’s strengths, Vickery noted that the country boasts some of the best technical talent in the world and has a vast consumer market that is still developing.
He praised the Prime Minister Narendra Modi government’s emphasis on national interest, but cautioned that true prosperity will come from competing globally.
India, he said, has moved far beyond the “license raj” mentality of the past and now has the capacity to be a global economic leader.
On the agriculture and dairy front, Vickery said the PM Modi government was right to avoid fully opening these sectors to US companies at present.
However, he argued that reforms -- such as those attempted earlier -- should be revisited, with a gradual approach that allows for reasonable competition.
Vickery also urged India to take on a leadership role in multilateral trade discussions, particularly at platforms like the WTO, to uphold the rule of law in global commerce.
He said that while standing up to tariff “blackmail” will be challenging, India is strong enough to do so and should align with other major economies such as Brazil to resist unfair trade pressures.
In his view, India’s future growth lies in balancing national priorities with openness to global markets -- on its own terms.
Source: IANS
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