Fri Feb 21 15:14:03 UTC 2025: ## India Urged to Slash Tariffs to Attract Global Investment and Boost Growth

**NEW DELHI** – NITI Aayog CEO BVR Subrahmanyam delivered a strong call for India to significantly reduce tariffs and embrace deregulation to attract global investment and propel its economic growth. Speaking at the All India Management Association’s 69th Foundation Day on Friday, Subrahmanyam asserted that protectionist trade policies are detrimental, emphasizing the need for India to open its markets regardless of external pressure.

Subrahmanyam highlighted that becoming globally integrated should be a top priority for India’s development, urging the completion of pending trade agreements with the European Union, the UK, and other major economies. He stressed that participation in global supply chains requires more than just production-linked incentives (PLI); deregulation, skill development, and streamlined business processes are crucial.

The NITI Aayog CEO criticized the current bureaucratic hurdles facing businesses, particularly MSMEs, and revealed the organization’s efforts to integrate India into global supply chains across various sectors, including electronics, auto components, chemicals, textiles, and footwear. A new national manufacturing mission, slated for launch within three months, aims to coordinate policies across over 20 ministries.

Subrahmanyam also emphasized the need for significant reforms in education and agriculture. He called for a shift in agricultural practices away from rice and wheat towards more profitable sectors like horticulture and dairy, addressing the skill gap that contributes to unemployment despite a large population. He further stressed the importance of inter-state cooperation, arguing that restrictions on enterprise flow hinder overall development. The NITI Aayog’s state-rating system, which assesses fiscal health and budget management efficiency, was cited as a tool for promoting reforms. Subrahmanyam warned against states offering incentives without the financial capacity to deliver.

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