<h1>Ex-central bank governor urges competitiveness over blanket self-sufficiency, warns US tariffs harm exports and investment</h1> A former central bank governor warned that turning a domestic manufacturing initiative into blanket self-sufficiency would deter investment and reduce productivity, arguing competitiveness-not protectionism-should drive policy. He said punitive 50% US tariffs on many Indian exports would raise costs in a key market, undermine export-led ambitions, and damage India's China+1 investment appeal, noting current exemptions for pharmaceuticals and electronics could be temporary. He recommended pragmatic trade negotiations: targeted, phased concessions (tariff-rate quotas, sanitary alignment) paired with farmer safeguards and investment, gradual energy diversification to preserve import flexibility, and a focus on comparative advantages to secure win-win agreements.