BVR Subrahmanyam, CEO of NITI Aayog, stated on Monday that India should reduce tariffs and remove non-tariff barriers throughout the value chain because expanding its markets is essential to boosting manufacturing competitiveness.

He stated that the forthcoming National Manufacturing Policy (NMP) is anticipated to solve the deficiency of manufacturing intermediates in India.

The Rajiv Gauba-led committee has already submitted its first set of reports on the measures, and Subrahmanyam stated that another round of significant reforms is anticipated before Diwali following the implementation of GST 2.0. Rajiv Gauba, a former cabinet secretary and member of NITI Aayog, leads two panels to advance the objectives of Viksit Bharat and next-generation reforms.

Before American tariffs start to affect Indian exporters after November, Subrahmanyam expressed optimism that a trade deal between the US and India will be reached shortly.