Dr. Tamanna Chaturvedi, Vice President, Invest India, delivered a sharp and policy-driven address at the International Trade Conclave organised by The Bengal Chamber of Commerce and Industry, focusing on India’s Free Trade Agreements (FTAs) and the country’s limited success in fully utilising them.
Dr. Chaturvedi highlighted that over the past decade, the Government of India has proactively negotiated and signed several FTAs with major global economies. These agreements are designed to expand market access, boost exports, attract foreign investment, and integrate India more deeply into global value chains. However, she cautioned that FTAs by themselves do not guarantee trade success; their impact depends on how effectively industry adopts and applies them.
She outlined the key advantages of FTAs for Indian businesses, including preferential or zero-duty access to partner markets, enhanced global competitiveness, smoother integration into international supply chains, and reduced dependence on traditional export destinations.
Despite these benefits, Dr. Chaturvedi noted that India’s FTA utilisation rates remain low compared to several Asian peers. She attributed this gap largely to limited awareness, low preparedness, and compliance-related challenges at the industry level, particularly among MSMEs. Many exporters continue to operate under MFN tariffs due to lack of clarity on rules of origin, documentation processes, and certification requirements.
Emphasising a shift in mindset, she stated that FTAs should not be seen merely as government policy instruments, but as practical business tools. Countries that derive maximum value from FTAs, she observed, are those where industry aligns production planning, quality standards, and market strategies with FTA opportunities.
In a direct and introspective moment, Dr. Chaturvedi posed a critical question to industry stakeholders:
“What has Indian industry done so far to truly take advantage of Free Trade Agreements?”
She urged businesses and industry bodies to evaluate whether they have mapped FTA markets, invested in compliance and quality upgrades, trained exporters on FTA usage, and actively engaged with platforms like Invest India for guidance.
Concluding her address, Dr. Chaturvedi called for stronger government–industry collaboration, focused capacity building, and a strategic shift in how FTAs are perceived—positioning them as growth enablers essential to India’s global trade ambitions.
