Historic trade deals put India on global stage - but challenges remain
AI Summary
India is poised to become a major player in global trade, potentially marking 2026 as a pivotal year with newly concluded trade agreements with the European Union and the United States. These deals, along with ongoing negotiations with the Gulf Cooperation Council, signal a shift from India's previous protectionist stance. While these agreements aim to boost exports, experts caution that success depends on addressing low utilization rates of FTAs by Indian exporters due to complex paperwork and a lack of understanding of FTA provisions. Historically, India's imports from FTA partners have outpaced exports. Recent agreements with Australia and the UAE show improved export growth due to better infrastructure and dispute resolution, but further reforms are needed to fully leverage preferential market access and simplify compliance for exporters.
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