India arming itself with FTAs to blunt Trump’s tariff shocks
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Donald Trump’s tariff policy has forced governments, the world over, to reassess how exposed their economies are to sudden trade shocks. In New Delhi, the response has taken a concrete shape: accelerate free trade agreements and lock in market access beyond the United States.India has stepped up efforts to finalise multiple FTAs over the next few months to cushion the impact of steep US import tariffs and widen export destinations at a time of growing global trade uncertainty, the Associated Press reported, citing people in the know of the development.Talks with the European Union, New Zealand and Chile are at an advanced stage, and India is set to sign a trade agreement with Oman today.Prime Minister Narendra Modi is in Muscat for the signing of the India–Oman Comprehensive Economic Partnership Agreement (CEPA), the first deal under India’s renewed FTA push, officials told the Associated Press. The agreement aims to boost bilateral trade and expand India’s exports of eng...