PM urgently needs to focus on trade policy

The current institutional arrangement that disperses strategic decisions to the Ministry of Commerce and Industry and the Ministry of External Affairs lacks the necessary depth

Both the UPA and the present Indian government have had the luxury of neglecting trade policy since falling oil prices put no strain on the Balance of Payments (BoP). Exports were totally neglected. I have written several pieces on that. Since the last decade India  took a reactive trade negotiations stance. Being “at the table” is not a choice for an aspiring major global player in a global economy, but a necessity. Inactivity is not a strategy; it is just a disguise for institutions that do not know how to defend their interests in difficult negotiations, and its institutions should