Paper: GS – II, Subject: International Relations, Topic: India’s Foreign Policy, Issue: India’s Trade Strategy.
Context:
India’s Foreign Trade Policy (2023) aims for $2 trillion in exports by 2030, emphasizing strategic autonomy and global engagement.
- By 2025, exports reached $825.25 billion, with FTA coverage projected to rise from 22% (2019) to 71% by 2026.
Key Takeaways:
India’s Trade Strategy Shift: India transitioned from cautious, regionally-focused FTAs to proactive agreements with advanced economies
- Previously engaged only with structurally similar nations
- Now pursuing comprehensive deals with EU, U.S., U.K., Australia, UAE.
- Strategic objective: Integrate into global value chains and access high-value markets.
India’s evolving trade strategy marks a decisive shift from cautious regionalism to proactive global integration. By deepening FTAs with advanced economies while safeguarding domestic capacity, India seeks to expand exports, strengthen supply chains, and enhance strategic autonomy in a multipolar world.
Source: (The Hindu)
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