India was once the production house for 37% of the global economy the British no, a Capitalist invention Multinational Corporation the East India Company put an end to that and reduced them to 3%. The company owned Britain, the West Indies, and a Colonial Empire as well. Trading textiles, spices, tea drugs and slaves out of tax free ports. It destroyed the worlds biggest textile industry which at the time was India. It then whitewashed the history of the Colonial Empire (ODT)
His country already has a $60 billion trade deficit with China and there are concerns lowering tariffs, and allowing the flow of cheap Chinese products into India, would further increase that deficit.