Rediscovering integration: World Bank argument on trade is worth hearing

Besides the argument that India must re-evaluate its approach to trade pacts, including the RCEP, other in-progress deals like those with the EU and the UK, must be the targets for political attention

In the latest edition of the World Bank’s “India Development Update”, the multilateral institution argued that, despite challenging external conditions, India’s medium-term growth would be relatively strong. The Bank’s forecast for growth in 2024-25 is 7 per cent, marginally below what the Reserve Bank of India (RBI) currently expects, but in line with many market forecasts. Yet the report also highlighted one major way to deal with “challenging” external conditions: Using trade links. Although India has boosted competitiveness domestically, including through investment in infrastructure and digitising various trade formalities, its overall trade policy remains shackled by an