India remains among the most over-regulated economies in the world, said author and commentator Gurcharan Das, arguing that tariffs are a tool meant to protect infant economies.
Speaking at the Business & Economy Literature Fest (BELF) 2025 on Sunday, Das said that being called the “king of tariffs” nearly 80 years (after independence) was an insult, referring to the “tariff king” label used by US President Donald Trump for India.
However, he added that the present situation should be used as a stimulus.
Biju Paul Abraham, professor in the public policy and management group at IIM Calcutta, said that the big challenge was the international environment.
“The domestic environment has improved for investment but the international environment has turned negative. And we seem to have very little leverage in ensuring that our interests are protected,” Abraham noted.
At a session on “An Economic Narrative for Viksit Bharat”, A K Bhattacharya, Editorial Director of Business Standard observed that while there was much discussion around start-ups, the sons and daughters of India’s business leaders were not displaying the same entrepreneurial drive as they were in the financialisation of the economy. “We are seeing a gradual demise of entrepreneurship.”