What trade policy strategy for India?

India, the fifth-largest economy in the world today, aspires to become a $5 trillion economy by 2025. Its participation in global trade, however, is low, contributing only 2.6 percent of total world exports in 2019. In light of the globalization backlash in advanced economies, and India’s large domestic market, should India rely on trade to reach its high growth ambitions? Are current trade policies conducive to increasing growth? Should India enter into trade agreements with advanced countries or join regional initiatives? What should be the top priorities for India’s next foreign trade policy?

Joining this episode of Trade Winds were:

Host
Anabel González Nonresident Senior Fellow

Guests

• Arvind Subramanian, Professor, Ashoka University and Director, Ashoka Center for Economic Policy; Nonresident Senior Fellow, PIIE; former Chief Economic Adviser, Government of India
• Harsha V. Singh, Chairman, IKDHVAJ Advisers; former WTO Deputy Director-General