<h1>Calibrated Tariff Approach Balances Industry Protection with Economic Growth While Maintaining WTO Compliance</h1> India's tariff policy regulates trade, protects domestic industries, and generates revenue through import and export taxes. The government acknowledges NITI Aayog's statements about tariffs' impact on economic growth, which align with India's strategy for economic development. While India must adhere to WTO maximum tariff limits, it typically applies rates below these bounds and participates in 13 FTAs and nine PTAs. The government takes a calibrated approach to balance domestic producers' and consumers' interests, implementing tariff reforms to correct inverted duty structures and reduce production costs. Recent tariff reductions on electronics and EV components aim to enhance manufacturing competitiveness.