Our new trade policy must calm fears of rising import restrictions4 min read . Updated: 20 Mar 2023, 12:19 AM IST
Such barriers may put FTAs and global value chain integration at risk; external imbalances can be addressed with other tools
India’s new foreign trade policy, which is to be announced shortly, will be watched closely. Policy watchers will especially look to it for guidance on future policy trends on import restrictions, over which there have been some conflicting signals. The government says it wants India to integrate with global value chains and also to take advantage of the ‘China plus one’ approach being adopted by many multinationals. It is also negotiating free trade agreements (FTAs) with important trade partners. These initiatives play well with investors.
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