Donald Trump’s renewed tariff offensive against Indian exports has jolted New Delhi out of any lingering complacency about its place in the global order. The cumulative 50% tariff, including the additional 25% tied to India’s trade relationship with Russia, is likely to be negotiated down, as trade spats often are when mutual interests align. But to treat this as a mere passing squall is to miss the real warning sign.For India, the real stress test isn’t economic coercion from abroad. It is the long-standing reluctance at home to complete the transformation that began in 1991.
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