With over 50% FTAs driving imports, it's time to reorient them for export growth

Quick Summary:

Currently, India has 14 FTAs and 6 preferential trade agreements.

While these FTAs have significantly boosted foreign trade with partner countries, a concerning trend has emerged: more than 50% of these agreements have resulted in a significant rise in imports, indicating a shortfall in achieving one of the primary objectives of increasing exports from India.

Additionally, the already prevailing zero or low import duties of partner countries prior to FTAs result in minimal or no incremental benefits for the Indian exporters, rendering the FTAs effectively of no use for them.

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Article Details

Author / Journalist: ET CONTRIBUTORS

Category: Business

Markets: IndiaNorth Korea

Topics: Free trade agreement Trade Global trade India Fta

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 12:24:22 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 1484 words

Reading Time: 9 minutes read

Sentences: 43 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 23280404

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About Economic Times

Main Topics: Business

Official Website: economictimes.indiatimes.com

Update Frequency: 6 posts per day

Year Established: 1961

Headquarters: India

News Last Updated: 7 hours ago

Coverage Areas: India

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Publisher ID: #84

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