Programme on India’s Free Trade Agreements: Dynamics and Diagnostics of Trade Prospects
Over the years, bilateral and regional trading arrangements, alias Free Trade Agreements (FTAs), have become permanent features of the global trading architecture. Trade is of great importance to most nations in the modern world. Trade without barriers – free trade – is promoted by institutions like World Trade Organization (WTO). FTAs are intended to grow the economies of the countries who participate in them, first and foremost by eliminating most tariffs among its participants. In addition, they work to reduce the red tape of non‐tariff barriers, such as quotas or export/import license requirements, which can inhibit trade as much as tariffs can.
With this backdrop, PHD Chamber of Commerce and Industry organized a Programme on India’s Free Trade Agreements: Dynamics and Diagnostics of Trade Prospects to assess the implementation status of the various FTAs signed by India, and prospective impact of the FTAs under negotiation. Evaluating current agreements may uncover new international trade opportunities for India in the coming years. The programme will comprise of eminent people from the business community, government, academicians, and many others.
Ms. Rita Teaotia, Secretary, Ministry of Commerce and Industry, Government of India graced as the chief guest in the event with esteemed speakers Dr. Ram Upendra Das, Head and Professor, Centre for Regional Trade and Mr. Sanjay Chadha; Additional Secretary, Ministry of Commerce and Industry, Government of India.
Sanjay Beswal, Co-Chairmen, Foreign Trade & Investment Committee,PHD Chamber as a part of esteemed panel shared his observations on Free Trade Agreements to gauge the true imperatives and impediments of Free Trade Agreements on Indian economy.