Modi govt gives major push to free trade pacts as exports, job creation become critical
New Delhi: The Modi government provides a new encouragement to conclude several Delayed UPA era -free trade agreements (FTA) and even won a few new ones. The aim is to achieve an export target of $ 2 trillion in 2030, and overcome disturbances in the global supply chain made by Pandemi and the ongoing Russian-Ukraine War.
In his first term (2014-2019), the Modi government was reluctant to reach FTA even when he sought direct foreign investment (FDI) by opening all the UPA era trading pact to be reviewed to increase its exports. The existing pact, the government believes, only encourages more imports.
However, with the increase in strategic harmony with several partner countries, especially Australia, France and the United Kingdom, India is now also focused on increasing economic ties, whic...