What Exactly Is A Free Trade Agreement? What Role Do Free Trade Agreements Play in India? What Are The Various Issues That Must Be Addressed During FTA Negotiations? How Can The Problems Be Solved? (250 Words / 15 M) (GS-2 International Relations )

Why this question:

To meet its export target of $2 trillion by 2030, India is going all-in on free trade agreements. India is negotiating free trade agreements with the European Union, Canada, the United Kingdom, and Israel.

Key The question’s demand:

To write about FTAs, their significance, the issues they raise, and possible solutions.

Structure of the response:

Introduction:

Start by defining what FTAs are.

Body:

First, describe the major elements of the FTA.

Next, write about the significance of FTAs to India, such as economic growth, tariff elimination, investment diversification, and so on.

Next, write about the various issues in FTA negotiations, such as tariff reductions affecting the entire manufacturing and agricultural sectors, service trade rules, digital issues such as data localization, intellectual property rights, and so on.

Next, propose solutions to the problems listed above.

Conclusion:

Write a plan for the future.