BS EDIT: New SOPs must make signing FTAs easier

By Business StandardPublished On Oct 24, 2024

Are India’s FTA delivering?

Doubts remain over the effectiveness of India’s FTAs as partner countries' exports have often outpaced India's, raising concerns about their benefits

Need for review

The Department of Commerce will propose new FTA norms to address concerns, avoid protectionism, and boost export growth, refining India’s trade negotiations

Slow pace of FTA negotiations

India has progressed in FTA talks with the UK, EU, UAE, and Australia, but turning preliminary agreements into comprehensive deals faces challenges and delays

Role of institutional memory

Long-term FTA talks, particularly with EU, face gaps in institutional memory. New SOPs aim to address this, ensuring negotiators build on past discussions better

Maximising benefits for exporters

FTAs open markets, but it's vital that Indian exporters benefit. Highlighting opportunities and tackling non-tariff barriers is key to industry success

Comprehensive approach is key

New FTAs go beyond trade, covering environmental and labour rules. Empowering negotiators and using external expertise can help India seize global opportunities