The World Bank’s latest report forecasts a 7% growth for India in 2024-25, amid challenging external conditions
Despite domestic improvements, India's trade policy is hampered by uncertainty over the benefits of export growth and incomplete trade deals
Current pacts with Australia and the EFTA are limited; deeper agreements with major trading partners like the EU are still pending
The World Bank highlights the need for India to reconsider its stance on RCEP, which India withdrew from despite potential economic benefits
India’s decision to stay outside RCEP may isolate it as others like Bangladesh integrate more deeply into the bloc
India must actively re-evaluate its trade agreements, including with the EU and the UK, to enhance integration into global trade networks