India’s ambition to become a developed country requires sustained high growth. Continued reforms will be essential to raise incomes and create jobs at the scale the workforce needs
India has lagged in capitalising on international trade. Countries such as South Korea and China transformed their economies through strong export performance
India needs a simple, low-tariff regime. Higher import duties raise input costs, acting as an implicit tax on exports and making Indian businesses less competitive globally
Modern trade relies heavily on intermediate goods. High tariffs create friction and can restrict India’s participation in global value chains, limiting export opportunities
India’s recent trade agreements with the UK and EU are significant. The priority now is to utilise them effectively, while considering deeper integration through the CPTPP
India must also make investment treaties more accommodating. Foreign investment can support exports, while stronger trade can provide a sustainable engine for growth