Phase IFoundation
Background
Overview
Essential for understanding India's trade strategy, economic integration efforts, challenges in boosting exports, and the evolving nature of trade diplomacy. It highlights the gap between policy intent and practical outcomes in achieving trade liberalization.
Free Trade Agreements (FTAs) are pacts between two or more countries to reduce or eliminate barriers to trade, primarily tariffs, to facilitate the exchange of goods and services. While designed to boost bilateral trade, their actual effectiveness can be significantly hampered by non-tariff barriers (NTBs).