FTA hesitancy

Govt and industry must be open to free trade pacts

NITI Aayog Chief Executive Officer Amitabh Kant recently told an industry grouping that Indian companies had an excessive fear of free trade agreements (FTAs) and that they should seek to become globally competitive rather than lobbying for greater protection. He correctly pointed out that India would suffer enormously if it failed to take advantage of the free trade opportunities that were becoming available. He argued that, even if India did nothing, free trade blocs would eventually form — and, if they excluded India, then both corporate India and the country in general would suffer lost opportunities. Mr Kant further pointed