ISAS Insights

This paper compares India’s tariffs with those of some of the world’s other large emerging market developing countries to ascertain if Indian tariffs are indeed among the highest. The countries include Russia, Brazil, Mexico, China, Indonesia and South Africa. Along with India, these countries are members of G20 – the world’s most influential grouping of major economies – and are large emerging market economies. Some of these, such as Brazil, Indonesia and South Africa, continue to be beneficiaries of US GSP, while Mexico is part of the USMCA (United States-Mexico-Canada Agreement) along with Canada. US perceptions regarding Indian tariffs are likely to be determined in relation to those in these economies, apart from China and Russia.