What is India's current stance on international trade and commerce
Provide an overview of India's current policy stance and strategies deployed to engage with the international community, as per the recent reports on the subject.
- India has adopted a more liberal trade policy in recent years, with a focus on reducing tariffs and promoting free trade. This has been reflected in its participation in regional and multilateral trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the World Trade Organization (WTO).
- India has also been strengthening its trade and economic ties with key countries such as the United States, China, Japan, and the European Union, among others. This has been achieved through a combination of bilateral and multilateral agreements, as well as strategic partnerships and collaborations.
- India is actively seeking to increase its exports and diversify its markets, with a particular focus on high-value goods and services. This has led to the development of new policies and programs aimed at boosting export competitiveness, as well as the establishment of new trade promotion agencies and initiatives.
- India is also looking to attract more foreign investment, particularly in strategic sectors such as infrastructure, manufacturing, and technology. To this end, it has introduced a number of new measures to improve the ease of doing business and offer incentives to foreign investors.
- Amid growing concerns about the impact of global trade on the environment and social welfare, India is also emphasizing the need for fair and sustainable trade practices. This has led to the development of new policies and initiatives aimed at promoting environmentally sustainable and socially responsible trade.
Answered
a year ago