Let us deploy customs reform as a strategic tool for trade success

As world trade fragments, India's response should include five specific measures that could raise our global competitiveness

- PRACHI MISHRA & VIJAY SINGH CHAUHAN

The multilateral trade order is unravelling. The US has imposed countryand product-specific tariffs unilaterally, leveraging them to extract deals from several countries. China has retaliated with export controls on critical minerals. These moves undermine the basic principles of cooperative global commerce, leaving countries like India to prioritize securing their national interests. Against this backdrop, the Union finance minister's announcement of a comprehensive customs overhaul comes at a critical moment. These reforms will offer India an opportunity not merely to shield itself from trade conflicts, but capture a larger share of global exports and integrate more deeply into global supply chains. Success, however, will require a fundamental restructuring of how goods flow across India’s borders.

The reforms must recognize and build upon India's expanding web of trade agreements with Japan, Korea, Asean, Australia, the UAE, European Free Trade Association and the UK, even as negotiations with the EU are underway. But signing agreements is only the first crucial step. The real challenge lies in making these partnerships work for Indian exporters through streamlined customs procedures and reduced friction at the border.