Indian Council for Research on International Economic Relations

Seminar Details

25 Jun 2004

Impact of Tariff Reforms on Indian Industry
 
ICRIER organised a seminar on ‘Impact of Tariff Reforms on Indian Industry’ on June 25, 2004 to debate and discuss how the domestic industry in India would be impacted by the substantial industrial tariff cuts expected to be made by the Indian Government in the near future. The Seminar was based on the findings of a comprehensive study (titled ‘Impact of Tariff Reforms on Indian Industry: Assessment based on a Multi-Sector Econometric Model’) undertaken by ICRIER to quantify the impact of tariff policy changes on India’s industrial sector. The results shared at the discussion were surprising in that, the findings suggested that even a substantial decline in tariff rates from an average of about 30% to about 10% (along with associated currency depreciation and increased market access) would have only a marginal impact on net exports, value of production and employment in the organised manufacturing sector. It seems no significant adverse impact would be there on the domestic industrial sector from the tariff cuts. Rather, a small increase in aggregate industrial production and employment might occur emanating from the efficiency enhancing effects of tariff reform. The Seminar was chaired by Prof. K L Krishna
 

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