India's Trade Future: Focus on Opportunities, Not Tariffs

World Bank President Ajay Banga suggests India should prioritize opportunities over tariff concerns amid global trade tensions. Highlighting India's numerous trade agreements, Banga praises the recent India-EU free trade agreement as an exemplary move. His remarks came during a visit to the CTTC in Bhubaneswar.

World Bank Group President Ajay Banga urged India to shift its focus from tariffs to trade opportunities amid ongoing geopolitical tensions affecting global commerce.

During a media interaction at Bhubaneswar's Central Tool Room and Training Centre, Banga highlighted India's progress, citing over 100 regional and bilateral agreements forged in the past two decades, including the significant India-EU free trade agreement.

Emphasizing the importance of trade deals, Banga noted that emerging markets like India have become vital players in global trade, with their involvement doubling to 40% from 20% over the last twenty years. The new India-EU agreement, offering duty-free access to 93% of Indian shipments, marks a substantial step in this direction.

(With inputs from agencies.)