Free trade agreements (FTAs) are agreements between two or more countries that reduce or eliminate tariffs and other trade barriers. FTAs can boost trade and economic growth, but they can also create challenges for businesses and workers.

India has signed a number of FTAs in recent years, including the Comprehensive Economic Partnership Agreement (CEPA) with Japan, the Regional Comprehensive Economic Partnership (RCEP), and the India-ASEAN Free Trade Agreement (AIFTA) and with Australia (ECTA). These FTAs have the potential to increase India's exports and attract foreign investment. However, they also pose challenges, such as increased competition from foreign companies and the need to comply with new regulations.

In this video, we will discuss the benefits and challenges of FTAs for India. We will also provide an overview of the FTAs that India has signed.

Benefits of FTAs

Increased trade: FTAs can boost trade between countries by reducing or eliminating tariffs. This can lead to lower prices for consumers and increased profits for businesses.
Increased investment: FTAs can attract foreign investment by making it easier for foreign companies to do business in a country. This can lead to job creation and economic growth.
Increased competition: FTAs can increase competition in a country's market by allowing foreign companies to compete with domestic companies. This can lead to lower prices and higher quality products for consumers.
Challenges of FTAs FTAs may also create challenges for countries signing them, such Increased competition. This may also result in job losses in some sectors, which are hopefully compensate by gains in other sectors. New regulations may need to be adopted, requiring businesses to rejig the way they do business.



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