Amita Batra: 'Focus on open, rules-based mega FTAs; cut import tariffs on key manufacturing inputs'

At this juncture of India's growth and development trajectory, it is important that Budget 2025 be oriented towards enhancing manufacturing competitiveness, India's share in global exports and creation of productive employment opportunities. It may be useful, in this context to highlight the fact that despite shock events, increasing uncertainty and geopolitical shifts over the last few years, global trade has been resilient and on track to achieve an all-time high of $33 trillion in 2024. Furthermore, it may be noted that three-fourths of global trade is trade in goods and of that, trade in manufactured goods dominates with 70 per…