Trade deals are key to the saptadhara vision
India, Aug. 24 -- In his Independence Day address this year, Prime Minister (PM) Narendra Modi unveiled Shakti ki Saptadhara (seven streams of strength), to lift India to developed-country status by 2047. The seven streams are: manufacturing, agriculture, technology, connectivity, the green and blue economy, defence, and soft power. The question now is whether the framework and financing for this ambition are in place. The answer is: more than one might expect. India has recently signed free trade agreements (FTAs) with Australia, Japan, New Zealand, the UK, Oman, the EU, and European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland), most carrying a substantial investment commitment. While none of these deals were ...
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