S. Jaishankar, the minister of external affairs, has underlined the Modi government’s prudence with regard to free trade agreements (FTAs). In order to stop the dumping of subsidized commodities into the nation, he said, India is cautious when entering into such accords.
This prudence is part of a larger plan to shield home businesses against possible harm caused by free trade agreements (FTAs), especially those that would weaken regional markets by permitting cheaper, subsidized imports.
The South Gujarat Chamber of Commerce and Industry hosted the event where Jaishankar spoke. He emphasized that although many nations are keen to sign free trade agreements (FTAs) with India, the government is still on guard. He pointed out that although India has successfully negotiated free trade agreements (FTAs) with the UAE, Australia, and a number of European nations, it still puts its own interests first when negotiating trade.
A key component of India’s trade policy under the current administration, which aims to strike a balance between home economic stability and international trade prospects, is highlighted by the minister’s remarks.
