India's New Trade Strategy: Growth and Cooperation
India's recent free trade agreements (FTAs) reflect strategic changes in its trade policy. This was reported by Zamin.uz.
From now on, the country is focusing particularly on economic interests, logistical efficiency, and strengthening existing trade routes. This approach indicates that India is striving to enhance mutually beneficial cooperation rather than pursuing geopolitical goals or market entry.
In recent years, the trade volume with countries covered by India's free trade agreements has increased significantly. For example, between 2020-2021 and 2024-2025, this trade volume grew by 92 percent.
This growth is twice as high as the overall growth of India's global trade volume. Notably, the new agreements serve to strengthen and develop already existing trade routes.
India's agreements with countries such as Australia, New Zealand, the United Kingdom, the European Free Trade Association (EFTA), the United Arab Emirates, and Oman are a key part of this strategy. For instance, trade between India and Australia increased by 96 percent.
Australia supplies India with coal, minerals, and energy resources, while India exports pharmaceuticals, textiles, and refined petroleum products. Similarly, although trade with New Zealand started from a small base, it has grown by 50 percent.
Trade with the United Kingdom expanded by 76 percent, which helped improve India's access to developed markets. India's agreement with EFTA is aimed not only at reducing tariffs but also at enhancing investment and technological cooperation.
The agreement signed with the UAE increased bilateral trade by 131 percent. This deal demonstrated the alignment of logistical efficiency and economic interests.
The agreement with Oman increased trade in key sectors such as energy and food products by 95 percent. Overall, India's new FTA strategy is focused on strengthening trade routes, reducing risks, and accelerating economic growth in the post-pandemic period.
This strategy is expected to further increase India's share in global trade in the coming years. Such an approach to developing trade and investment will further strengthen India's economic potential.
