Global markets
India Targets 75% Global Trade Coverage as 8-9 New FTAs Are Negotiated
In a significant move for the Indian economy, the nation is actively negotiating 8-9 new Free Trade Agreements (FTAs). This strategic push aims to expand India's global trade footprint, with the potential to cover 75% of worldwide commerce. These negotiations are crucial for enhancing India exports and providing Indian exporters with greater market access. Building on existing trade pacts that already cover $70 trillion in GDP, these new agreements could unlock an additional $15 trillion. The focus on these FTAs underscores India's evolving trade policy and its ambition to integrate deeper into global value chains, benefiting the manufacturing India sector and driving export growth India. As highlighted by Lumic's insights, the real beneficiaries could be export-ready MSMEs, opening up new avenues for the Indian economy.
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