Indian exports: How Modi 3.0 can navigate the protectionist tides in advanced economies like US and EU
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India's transition to coalition politics raises concerns about potential slowdowns in economic reforms. Rising protectionist measures from the US and EU pose challenges for Indian exporters, particularly in key sectors like textiles and apparel. India is unlikely to gain the same level of access to these markets as China once did. Stringent regulations, such as the EU's deforestation regulations and the US's complex authorisation requirements, create barriers for Indian exporters. Developed economies are deploying higher environmental and labour standards strategically to restrict trade. The potential impact of these protectionist measures on India's economic goals and objectives is disproportionate. Compliance with technical standards and regulations presents challenges and potential costs for Indian exporters, but also offers an opportunity to enhance the quality and safety of their products. The adoption of stricter environmental and labour standards for exports could have significant economic and social impacts on developing nations like India. The micro, small, and medium enterprises (MSMEs) in India may struggle to comply with very high standards, potentially limiting their access to the domestic market.
#IndianExports #Protectionism #Modi30 #Us #Eu #CoalitionPolitics #Textiles #Apparel #Regulations #EnvironmentalStandards #LabourStandards #Msmes
https://m.economictimes.com/news/economy/foreign-trade/trade-walls-are-rising/articleshow/110825010.cms
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