New Delhi: Not all sectors gain equally from trade agreements. India’s latest deal is expected to favor industries already competitive globally or those supported by domestic reforms.
Textiles and apparel stand to benefit from improved market access and tariff advantages, particularly for labor-intensive segments. This could boost exports and employment in clusters across India.
Pharmaceuticals may gain through easier regulatory cooperation and expanded export opportunities. India’s strength in generics positions it well, provided quality standards are maintained.
Chemicals and specialty chemicals could see growth due to rising global demand and supply-chain diversification. This sector has already attracted significant investment and could scale further.
Agriculture-related exports such as processed foods and marine products may benefit from reduced duties and streamlined approvals, though primary agriculture remains protected.
IT and services could gain indirectly through improved mobility provisions and digital trade rules. While not always headline-grabbing, services exports form a major part of India’s trade strength.
The key challenge will be ensuring MSMEs can access these opportunities. Without support in finance, compliance, and technology, benefits may remain concentrated among large firms.