India's Trade Dynamics: Exports Growth and Mobility

Commerce Secretary Sunil Barthwal emphasized the importance of exports growth over import concerns, advocating for open trade policies and improved professional mobility in FTAs. He highlighted the significant role of imports in exports, the necessity of MRAs, and the prominence of the services sector in India's trade dynamics.

India should not overly stress about imports if exports keep rising, says Commerce Secretary Sunil Barthwal. Speaking at CII's Global Economic Policy Forum, he emphasized the need for open trade policies, warning against protectionism that raises trade barriers.

He urged a shift from the 'mercantilist approach' and highlighted the crucial role imports play in supporting exports. Barthwal also stressed the importance of professional mobility in trade agreements with developed nations like the UK and EU, arguing it's essential for the services sector's growth.

His remarks spotlighted India's open economy, where trade accounts for nearly 46% of GDP, and underscored the need to invest in education, particularly in STEM, to support the services sector's expansion.

(With inputs from agencies.)