Reacting to increase in tariff on consumer goods, Ganesh Kumar Gupta, President, FIEO said that the higher tariff coupled with depreciating Rupee will provide double protection to domestic industry and enable it to compete with imports with a view to reduce it and bridge the widening trade deficit. It will give a push to Indian manufacturing as well. However, the increase in duty on ATF is a cause of concern, as it may hike the passenger airfare as ATF is a key factor in determining the price added FIEO Chief.
