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Context :
International trade and investment flows are vital for the sustainable development of the country, However presently the global trade and investment flows have severely been hit by the Covid-19 Pandemic.
In this scenario, the Indian Government has entered into discussions with different countries/regions for economic cooperation agreements. As a result of these discussions, India has recently signed an agreement with UAE and Australia. A few others are in the pipeline.
Through new trade and economic agreements, it intends to tap into global demand, especially in advanced countries where growth has been strong in the last few years. The Free trade agreements (FTAs) are an effective way to increase a country’s exports and step up engagement in global value chains. It would impart a fresh boost to India’s export trajectory too.
