News Snapshot:
Incheon: India can achieve a growth rate of over 8% in the long term based on productivity growth, investments and infrastructure building, said Albert Park, chief economist Asian Development Bank. However, he flagged the use of production-linked incentives (PLI) scheme for attracting investments as protectionist, stating India should consider policies that avoid direct subsidies. In an interview, Park said India should prepare for the European Union’s carbon tax on imports but should raise concerns if the tax makes trade prohibitive. India should be open-minded about adopting ADB’s energy transition mechanism while adhering to its net zero emissions policy by 2070,...
