Tariff relaxation refers to the reduction or removal of taxes on imported goods. It aims to encourage trade and enhance economic growth. By lowering tariffs, countries can attract foreign investment. This can lead to increased competition and lower prices for consumers. However, it may also impact domestic industries. Balancing these effects is crucial for sustainable economic development.
The India–New Zealand Free Trade Agreement (FTA), concluded in December 2025, marks a significant turn in India’s external economic strategy. More than a tariff-cutting deal, it reflects India’s...
