India’s geo-economics has undergone drastic changes after the initiation of economic reforms in the early 1990s. Prior to economic reforms, India had adopted a very cautious and guarded approach to regionalism.
Trade and economic co-operation with the countries of the world requires building up of shared infrastructure. Many Asian countries have joined together to develop cross-border infrastructure to lay the foundations for closer trading relationships and increased connectivity among countries.
Recognizing that Regional Trade Agreements (RTAs) would continue to feature prominently in world trade, India has started engaging with its trading partners/blocks with the intention of expanding its export market and concluding trade and technology agreements and moving, in some cases, even towards Comprehensive Economic Cooperation agreements (CECAs) which cover Free Trade Agreement (FTA) in goods, services, investments and identified areas of economic co-operation.
RTAs are an integral part of India’s foreign trade policy, complementing the multilateral trading systems. This book provides deep insights into India’s trade and economic relations with regional groupings/blocks.