Foreign Trade Policy of India: Recent Trends

Abstract

Quantitative and detailed trade policy information and analysis are more necessary now than they have ever been. Questions have been asked about whether the gains from trade exceed the costs of trade. Concerns regarding the distributional consequences of trade reforms have also been expressed. Good policy needs to be backed by good analysis. There needs to be a rethinking of India’s foreign trade policy both in theory and in practice so as to make it more relevant and rewarding. Visibly India now focuses on exports as a thrust area, pursuing customers aboard. Make in India is the new (wake-up) call. What is in the upcoming foreign trade policy of India? This paper discusses the paradigm shifts in India’s foreign trade policy.