India has to focus on monetising FTAs

India has made significant strides in expanding its global trade footprint by signing numerous Free Trade Agreements (FTAs) over the years. These agreements have paved the way for increased market access and reduced trade barriers, offering a competitive edge to Indian businesses on the international stage. However, experts suggest that the true potential of these FTAs remains largely untapped, urging a shift in focus towards monetising these agreements effectively. To capitalise on the opportunities presented by FTAs, India must prioritise developing strategic frameworks that facilitate seamless trade operations. This involves not only enhancing logistical infrastructure but also ensuring that Indian exporters are well-informed about the benefits and provisions of each agreement. By fostering an environment that encourages innovation and competitiveness, India can leverage FTAs to boost economic growth and create sustainable employment opportunities. Furthermore, collaboration between the government and industry stakeholders is crucial to identify and address the challenges impeding the monetisation of FTAs. By conducting regular assessments and consultations, policymakers can tailor strategies to maximise the advantages of these agreements. As India continues to position itself as a global economic powerhouse, effectively monetising FTAs will be instrumental in driving long-term prosperity and strengthening its international trade relations.

— Authored by Next24 Live