New Delhi, Apr 20 (BNP): India’s trade engagement with its Free Trade Agreement (FTA) partners has strengthened, with their share in the country’s overall trade rising to 28.8%, according to an assessment by NITI Aayog.
The report highlights that while trade diversification is gradually improving, India’s export basket remains heavily concentrated in gems and jewellery, indicating continued reliance on a limited range of high-value export products.
Officials noted that FTAs have played a significant role in expanding market access and deepening trade linkages with key global economies. However, the concentration of exports in select sectors underscores the need for broader product diversification to enhance long-term trade resilience.
The findings also suggest that increasing integration with FTA partners is contributing to higher trade volumes, but structural challenges remain in expanding India’s export base across manufacturing and high-technology sectors.
Experts believe that improving export diversification, strengthening manufacturing capabilities, and boosting value-added production will be crucial for sustaining trade growth and reducing dependency on a narrow set of commodities.
Overall, the report points to steady progress in India’s global trade integration, while also highlighting the need for a more balanced and diversified export strategy.
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