Opinion National Interest PoV 50-Word Edit

ThePrint On Camera Videos In Pictures

Society & Culture Around Town Book Excerpts Vigyapanti The Dating Story

More Judiciary Education YourTurn Work With Us Campus Voice

Opinion National Interest PoV 50-Word Edit

ThePrint On Camera Videos In Pictures

Society & Culture Around Town Book Excerpts Vigyapanti The Dating Story

More Judiciary Education YourTurn Work With Us Campus Voice

Piyush Goyal says India is on track for $1 trillion exports. FTA kite has a string problem

India-UK CETA promises duty-free access from 15 July, but the determining factor is procedural, rather than a high-level meeting.

India’s trade policy often emphasises ceremonial aspects, such as signing agreements, announcing figures, and proclaiming success. However, the subsequent administrative processes, rather than diplomatic efforts, will ultimately determine whether Commerce Minister Piyush Goyal’s projected $1 trillion in exports for this year materialises or remains aspirational.

After the Board of Trade meeting in New Delhi on Friday, Goyal said India was “on track” to achieve this target, and employed a metaphor: “When you fly a kite, you have to hold it tight.”

The same day, the finance ministry issued the Rules of Origin for the India-UK Comprehensive Economic and Trade Agreement (CETA), which is crucial for determining which Indian exporters will benefit from the duty-free access promised by the agreement starting 15 July. Thus, the ambitious target and the intricate details are intrinsically linked.

Also Read: India on an FTA signing spree, but limited utilisation & widening trade deficits temper gains

India’s engagement with free trade agreements represents a structural shift that has evolved over the past two decades, rather than a recent development. According to Niti Aayog’s Trade Watch Quarterly, the proportion of India’s total trade with FTA partners increased substantially, from 4.6 per cent in 2006 to 28.8 per cent in 2024.

In this context, India’s expanding FTA network and the implementation of CETA are understandable. However,........

© ThePrint