India Does a Turnaround on Trade Spurred by Post-Covid Economic Reality
India wants to conclude bilateral trade deals fast, reversing an earlier attitude of caution that has confounded some countries.
A worker prepares to catch empty crates at a wholesale vegetable market in Chennai, India, on Thursday, Sept. 23, 2021.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
India is racing to wrap up a clutch of quick-fire bilateral trade pacts by the end of March, officials said, as economic necessity spurs a shift from New Delhi’s usual go-slow approach on trade deals.
The shift also means that Prime Minister Narendra Modi’s government is prioritizing “early harvest” pacts over comprehensive free trade agreements with partners, a move that’s leaving some countries perplexed, officials said, asking not to be identified as the talks are private.