Topic: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
4. Trade and Investment between India and United States have experienced enormous growth over the past two decades, but still lag behind in deepening strategic and cultural alignment. Analyse how better trade partnership will help both countries navigate the post-pandemic landscape. (250 Words)
Difficulty Level: Moderate
Reference: Indian Express
Why the question:
As the US-India Trade Policy Forum begins, it is critical to address the shortfall in trade ties. The current stakes for a growing economic partnership have never been greater as we experience a volatile and uneven global economic recovery from the pandemic.
Key Demand of the question:
Analyse the present state of bilateral relationship between India and US; and the areas of cooperation required to take it further.
Directive word:
Analyse – When asked to analyse, you must examine methodically the structure or nature of the topic by separating it into component parts and present them in a summary.
Structure of the answer:
Introduction:
Describe the partnership between the world’s two largest democracies and free-market societies.
Body:
First talk about the need for greater cooperation when the world is experiencing a volatile global economic recovery from the pandemic.
Mention how expanding trade can help in India’s economic recovery.
Talk about the recent decisions taken in India like raising FDI caps in key sectors and the repeal of the retroactive tax law can create a positive momentum in the economic partnership.
Talk about the US-India cooperation in healthcare sector, digital sphere and 5G can accelerate trade.
Conclusion:
Conclude with a way forward for strengthening trade and investment ties.
