Expanding India's global stamp: FTAs are the way to go if gaps are plugged

The complexities of rule of origins may end up distorting trade instead of fostering it

Policymakers have shown renewed interest in India’s attempt to increase its global presence by integrating with global value chains (GVCs). Various policy initiatives, from Make in India to Make for the World, to the recent Free Trade Agreements (FTA) with UAE and Australia point towards an increasing emphasis on global trade. This is also evidenced by recent trade figures, which document a 30.7 per cent growth in India’s merchandise exports, which stood at $40.19 billion in April 2022. Moreover, to boost post-pandemic recovery, the policymakers have set an ambitious target of $1 trillion in merchandise exports by 2030.

However, in