Why has there been an increased focus on negotiating, renegotiating and concluding Free Trade Agreements (FTAs) by India in recent years?

Free Trade Agreements refer to movement of goods and services between nations with minimal or no restriction (tariff and non-tariff barriers). To give boost to its manufacturing sector is contribute only 12% to GDP. India contributes only 24% to corporate of world. Huge trade deficit is important - 77.8 bnf (Report - 9.53 bnf) (chance deficit of 15 bnf). Increase competition from developing

countries like Bangladesh, Vietnam To make robust supply chain is vulnerability during COVID highlights its importance To emerge as an economic power. Realization of 2025 target of 5 trillion economy. Some of recent cases FTAs include: 1) FTA with Norway, Switzerland, Liechtenstein - promise of 100 bnf FDI 2) CEPA with Australia 3) Bilateral Investment Treaty with UAE is give boost to pharmaceutical. Beside talk with EU & UK is going on. Hence, to become economic power India has to negotiate multi-lateral FTAs