FTAs: It is time for India to pause and reassess its trade strategy

India’s trade deal with the United Kingdom, announced on May 6, crosses several long-standing red lines. For the first time in any free trade agreement (FTA), India has agreed to slash car import duties, open up its vast government procurement market to a foreign country, and weaken its patent regime under external pressure — a sweeping shift that signals how far India is now willing to go to close a deal.

 

While the full FTA text remains undisclosed, publicly available details reveal signs of concern. This write-up flags three key issues.

 

Automobile tariff cuts: India’s decision to slash car import