-
Post-2020, India has shifted from broad, “light” FTAs with developing markets to deeper deals with advanced economies that cover services, standards, investment, mobility and enforceable facilitation, with the goal of plugging into high-value global chains, not just cutting tariffs. Earlier pacts (ASEAN, Japan, Korea) were shallow and asymmetrical, with NTMs blunting India’s export gains while imports surged; Vietnam’s richer FTA network underscored the gap. The new playbook: Mauritius (2021), Australia & UAE (2022), EFTA (2024), and UK/Oman/NZ (2025), plus talks with the EU, US, Canada, Israel, GCC, Qatar, Mexico—all while keeping sectoral red lines (e.g., dairy).
