India should lower tariffs and dismantle non-tariff barriers across the value chain, as opening its markets is critical to improving competitiveness in manufacturing, NITI Aayog CEO BVR Subrahmanyam said on Monday.

Stating that India lacks many manufacturing intermediates, he said the upcoming National Manufacturing Policy (NMP) is expected to address such issues. “Hopefully, the (NMP) will address a lot of these challenges. It will focus on clusters and aim at the best world-class ecosystem for trade,” the NITI CEO said, while launching ‘Trade Watch Quarterly’ for Q4FY25.

Major reforms expected

After GST 2.0, Subrahmanyam said another round of major reforms is expected before Diwali, with the Rajiv Gauba-led committee already having submitted their first set of reports on these measu

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