Phase IFoundation
Background
Overview
India is actively pursuing and negotiating various FTAs. UPSC expects candidates to understand the rationale, implications, and challenges of FTAs for India's economy and its position in global trade, especially in the context of bilateral relations with major economies like the U.S.
Free Trade Agreements (FTAs) are pacts between two or more countries to reduce or eliminate barriers to trade, such as tariffs and quotas, to facilitate the exchange of goods and services. They aim to foster economic integration and increase trade volumes between signatory nations, often leading to deeper bilateral economic relations.