Diversifying Export Markets: India can lessen the effect of Trump tariffs by expanding . Deeper integration with regional trade pacts, such as the and the conclusion of free trade deals with the European Union and the United Kingdom, can provide new channels for Indian exports.
Improving Domestic Production: The has gained fresh significance here. India can minimise import dependence and emerge as a more self-reliant economy by supporting domestic production capacity, particularly in electronics, semiconductors, and cars.
Synergizing the China Plus One Strategy: With foreign firms looking for alternatives to Chinese manufacturing due to continuing trade tensions, India has a lot to gain from . The PLI schemes can act as a driver in this process, positioning India as a viable manufacturing destination.
Improving Trade Infrastructure: Inaugurating systems such as the Bharat Trade Net (BTN), a single-window trade documentation system, can simplify procedures, lower bureaucratic barriers, and improve India’s attractiveness as a trade partner.
