outlines the pivot in India’s trade diplomacy This article, based on the recent analysis by Chandrajit Banerjee (CII), . It is highly relevant for UPSC GS Paper II (International Relations) and GS Paper III (Economy). India’s Trade Strategy in a Multipolar World: A Paradigm Shift In a global landscape defined by shifting alliances and economic fragmentation, India has transitioned from a cautious observer to a proactive architect of international trade. Central to this strategy is the ambitious goal of reaching $2 trillion in exports by 2030, underpinned by a philosophy of "Strategic Autonomy." 1. The Shift from Regionalism to Global Integration Historically, India focused on Free Trade Agreements (FTAs) with similar developing economies. Today, the approach has pivoted toward advanced economies and high-value markets. * Expansion: India’s FTA network is projected to cover nearly 71% of its total export basket by 2026, a massive jump from 22% in 2019. * Key Part...
ENDLESS PIECE OF INFORMATION