Global Trade: What’s India Policy On UK, China, and USA?

India is one of the biggest superpowers in the world in terms of financial and also logistical matters. Incidentally, the Indian authorities have been formulating certain mechanisms and trade agreements with leading countries globally, and they have taken a big decision with regard to the same.

In a landmark agreement, the India-UK Comprehensive Economic and Trade Agreement has come into effect from today, delivering zero-duty market access for nearly 99% of India's exports, covering almost 100% of trade value.

The India-UKFTA creates unprecedented opportunities for textiles, leather, gems & jewellery, engineering goods, marine products, chemicals, processed foods, MSMEs, farmers and manufacturers. It also opens new frontiers for IT, professional, financial, education and business services sectors, while expanding mobility for Indian talent.

On the other hand, India had been strategically increasing the imports from China as this volume increased by 21% recently, which is one of the most significant developments regarding India and China agreement.

It needs to be noted that the bilateral relationship between India and China has been strengthening every single week in the recent past and this is a positive sign as well.

Then we have a piece of shocking information coming in from the United States as it is being established that the US authorities are contemplating the area of imposing hundred percent in India on certain market areas.

It is being established that India has started to strategically increase the agreements and volumes with United Kingdom and China in order to counter the United States volatility.

The United States might be a strong strategic alliance for India, but when it comes to the market dictation, it is essential that India has other alternatives and this is why the trade agreements with UK and China are coming handy.