Industry must gear up for lower tariffs, looking at further easing of FDI norms : DPIIT Secretary

News Snapshot:

With a whole bunch of free trade agreements (FTA) under discussion, India could shed its conservative approach and look to lower tariffs and ease Foreign Direct Investment norms going forward, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said on Saturday. The secretary said that the government, however, aims to correct any duty distortion that has been impacting manufacturing as India and is looking to improve its ease of doing business ranking and increase India’s share in global trade which is currently at 8 per cent despite being home to the world’s 17 per cent...