Summary:

With electronics, pharmaceuticals, and engineering goods emerging as significant contributors, India's growing network of Free Trade Agreements (FTAs) is accelerating export growth. These industries have become more prominent in global markets thanks to preferential market access and reduced trade barriers, which indicate a move away from conventional commodity exports and toward more expensive manufactured and technologically advanced goods. FTAs have increased India's competitiveness, expanded its export markets, and strengthened its integration into international value chains. While electronics exports have increased quickly due to increased manufacturing capacity and worldwide demand, engineering goods continue to be one of the nation's top export categories. India's standing as a top provider of reasonably priced medications continues to boost pharmaceutical exports. Long-term economic development is anticipated to be supported by the expansion of these industries.

Source: IBEF

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