India and FTAs

25 NOV,2019 | MEDC


 

India needs to accept that mega regional Free Trade Agreements (FTAs) are going to become an inevitable part of Asia’s evolving economic landscape. These agreements are used by like-minded countries to align common commercial interests and frame rules and regulations to facilitate mutual trade in goods and services. There is no reason India cannot benefit from such groupings, provided we first put our own infrastructure in order. In an age of global value chains (GVCs), it is counterproductive to remain for too long outside international trading systems. India needs to do a serious rethink on joining the Regional Comprehensive Economic Partnership (RCEP) if it is to expand its influence in the rapidly growing Indo-Pacific region. FTAs with the US or the EU cannot substitute for the RCEP as currently they are not the most dynamic regions in the world in terms of either economic growth or GVC activity.

 

*Photo Credit: Google

Comments


Featured Posts

Recent Posts

EMERGING ISSUES IN AEROSPACE INDUSTRY: AN INDIAN PERSPECTIVE


Tourism and its contribution to the Economy


Interactive Meeting with Mr. Jaykumar Rawal Hon'ble Minister for Tourism & Employment Guarantee Scheme Govt. of Maharashtra


De-coding skills-based pro-bono


FOOD PRICE VOLATILITY


Food Inflation in India: An Assessment



Archive

© Copyright MEDC, All rights reserved
Website Design and Develop By: SCI Knowledge Interlinks