India Resumes Free Trade Agreements (FTAs)

India resumed signing Free Trade Agreements (FTAs) in 2021, adopting a more cautious approach to secure beneficial outcomes. While agreements with Mauritius, UAE, Australia, and EFTA countries have been completed, negotiations with the UK, Oman, and Peru face delays. India is reconsidering joining RCEP amidst concerns of trade deficits. The UAE FTA has led to increased imports of precious metals, prompting temporary import duty reductions. With 14 FTAs covering 25 nations, India aims to expand negotiation skills in areas like sustainability and labour to navigate evolving global trade dynamics effectively.