What India's FTA with New Zealand signals

A mid trade uncertainty owing primarily to tariff weaponisation, countries have made trade deals their lifeboats. India, too, needs these deals as much as others, but the country also finds itself in a sweet spot, given its large market and relatively sound economic performance and outlook.

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Countries and blocs that would have otherwise not yielded to Indian positions in trade talks are now more willing to make concessions. India's trade deal with New Zealand, concluded on Monday, is evidence of this. India did not join the RCEP some years ago, given its red-lines on dairy and agriculture-among other asks-were not accommodated; Australia and New Zealand, both top exporters in these sectors, were part of that deal. The proposed fr