Another 1991 moment, seize it: Panagariya

'Put EU FTA, land & labour reforms on fast track'

- FE BUREAU

WITH THE TARIFF war unleashed by the US threatening to hit India's shipments to its largest exports market hard, 16th Finance Commission chairman Arvind Panagariya on Friday said New Delhi should finalise a free trade agreement with EU at the earliest, and move ahead with pending economic reforms to boost economic growth.

Speaking at a Business Today event, Panagariya said: "...in some ways this is practically like the 1991 moment that there is a crisis that has been brought about by the massive tariffs that the US (has imposed on India)... It is a good time to look back and take stock and think of what we could do," he said.