Overview
- Wall Street Journal coverage says the August 2025 U.S. tariff of 50% exposed structural weaknesses in India’s heavily regulated economy.
- The critique describes reforms under Prime Minister Narendra Modi as delayed, piecemeal, and cosmetic rather than a coherent free‑market strategy.
- Poorly implemented GST is cited as a major failure, with complexity that burdens businesses despite being billed as a landmark change.
- The report notes late moves on banking fixes and FDI openings, persistent distress at state electricity firms, and a lack of meaningful labor reform.
- It highlights rollbacks of agricultural liberalization, stalled efforts on land, subsidies, and privatization, and warns that incremental tweaks will not rebuild confidence.