What ails India’s free trade agreements?
Lately, India’s trade policy seem to lack a vision. After actively pursuing it for over a decade, India decided against joining RCEP at the eleventh hour. The official version is that India runs a large trade deficit with RCEP countries, and was expecting specific protection for its industry and far...
| Autores principales: | , |
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| Formato: | Opinion Piece |
| Lenguaje: | Inglés |
| Publicado: |
Indian Express Group
2020
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/143272 |
| _version_ | 1855542404326621184 |
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| author | Pohit, Sanjib Pal, Barun Deb |
| author_browse | Pal, Barun Deb Pohit, Sanjib |
| author_facet | Pohit, Sanjib Pal, Barun Deb |
| author_sort | Pohit, Sanjib |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Lately, India’s trade policy seem to lack a vision. After actively pursuing it for over a decade, India decided against joining RCEP at the eleventh hour. The official version is that India runs a large trade deficit with RCEP countries, and was expecting specific protection for its industry and farmers from a surge in imports, especially from China. Since that did not materialise, the government of India does not foresee any gain from joining RCEP. Moreover, it may hamper India’s Make in India programme. In hindsight, this may be an afterthought of signing several free trade agreements (FTAs) with Far East countries/blocs (Korea, ASEAN, Japan) in the past (under UPA), the gains of which are not clearly visible. In fact, the official view is that poor negotiations of FTAs under previous governments have harmed Indian industry, and led to a distorted trade balance. While the outcome variable (distorted trade balance) is shown by statistics, the factor behind this trend needs in-depth introspection. The question is whether these FTAs escalate the non-tariff measures (NTMs), leading to higher trade deficit. This is indeed a possibility if policymakers didn’t pay enough attention to creating a complementary ecosystem, in terms of trade facilitation measures for efficient functioning of the trade regime, at the time of signing of FTA. |
| format | Opinion Piece |
| id | CGSpace143272 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2020 |
| publishDateRange | 2020 |
| publishDateSort | 2020 |
| publisher | Indian Express Group |
| publisherStr | Indian Express Group |
| record_format | dspace |
| spelling | CGSpace1432722025-11-24T11:21:10Z What ails India’s free trade agreements? Pohit, Sanjib Pal, Barun Deb free trade agreements trade liberalization trade international trade Lately, India’s trade policy seem to lack a vision. After actively pursuing it for over a decade, India decided against joining RCEP at the eleventh hour. The official version is that India runs a large trade deficit with RCEP countries, and was expecting specific protection for its industry and farmers from a surge in imports, especially from China. Since that did not materialise, the government of India does not foresee any gain from joining RCEP. Moreover, it may hamper India’s Make in India programme. In hindsight, this may be an afterthought of signing several free trade agreements (FTAs) with Far East countries/blocs (Korea, ASEAN, Japan) in the past (under UPA), the gains of which are not clearly visible. In fact, the official view is that poor negotiations of FTAs under previous governments have harmed Indian industry, and led to a distorted trade balance. While the outcome variable (distorted trade balance) is shown by statistics, the factor behind this trend needs in-depth introspection. The question is whether these FTAs escalate the non-tariff measures (NTMs), leading to higher trade deficit. This is indeed a possibility if policymakers didn’t pay enough attention to creating a complementary ecosystem, in terms of trade facilitation measures for efficient functioning of the trade regime, at the time of signing of FTA. 2020-03-09 2024-05-22T12:12:50Z 2024-05-22T12:12:50Z Opinion Piece https://hdl.handle.net/10568/143272 en Open Access Indian Express Group Pohit, Sanjib; and Pal, Barun Deb. 2020. What ails India’s free trade agreements? Financial Express. First published online on March 9, 2020. https://www.financialexpress.com/opinion/what-ails-indias-free-trade-agreements/1892598/ |
| spellingShingle | free trade agreements trade liberalization trade international trade Pohit, Sanjib Pal, Barun Deb What ails India’s free trade agreements? |
| title | What ails India’s free trade agreements? |
| title_full | What ails India’s free trade agreements? |
| title_fullStr | What ails India’s free trade agreements? |
| title_full_unstemmed | What ails India’s free trade agreements? |
| title_short | What ails India’s free trade agreements? |
| title_sort | what ails india s free trade agreements |
| topic | free trade agreements trade liberalization trade international trade |
| url | https://hdl.handle.net/10568/143272 |
| work_keys_str_mv | AT pohitsanjib whatailsindiasfreetradeagreements AT palbarundeb whatailsindiasfreetradeagreements |