Topic: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
3. Free trade agreements (FTAs) offer significant economic opportunities for India, but successful negotiations require careful consideration of various issues and active efforts to address concerns and balance interests. Examine. (250 words)
Difficulty level: Tough
Reference: Live Mint
Why the question:
The article calls for a shift towards a more forward-looking and adaptable approach to trade policy to better integrate India into the global economy.
Key Demand of the question:
To write about FTAs, its importance, issues involved in it and ways to overcome it.
Directive word:
Examine – When asked to ‘Examine’, we must investigate the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.
Structure of the answer:
Introduction:
Begin defining what FTAs are.
Body:
First, write about the major components of the FTA.
Next, write about the importance of FTA to India – economic growth, eliminate tariff barriers, diversify investments etc.
Next, write about the various issues in FTA negotiation – tariff reduction impacting the entire manufacturing and the agricultural sector; rules on services trade; digital issues such as data localisation; intellectual property rights etc.
Next, suggest ways to overcome the above.
Conclusion:
Conclude by writing a way forward.
