, Columnist
India Can’t Afford to Lose the World’s Trust on Trade
Arbitrary and inconsistent restrictions on wheat, sugar and steel will undermine the country’s efforts to entice value chains away from China.
World wheat prices rose on news of India’s export ban.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
Indian Prime Minister Narendra Modi often speaks of “trusted” supply chains. At the G-20 last year, he said that global supply chains depend upon “trust, transparency, and timeframes”; he’s made a similar pitch for Japan, the United States and Australia to “trust” India as a trade partner.
And he’s right: The only chance that countries such as India have to entice value chains away from China is by focusing on resilience and reliability.