India's Trade Policy
Strategic Autonomy in Negotiations
India has historically maintained a cautious posture in trade negotiations — it withdrew from the Regional Comprehensive Economic Partnership (RCEP) in 2019, citing concerns about market access for Chinese goods. India's approach to the BTA follows a similar logic: reciprocity is acceptable, but only when structured so that Indian manufacturing is not rendered non-competitive relative to lower-cost ASEAN producers. India's comparative advantage in textiles, pharmaceuticals, and IT-enabled services means its negotiating leverage is asymmetric — the US needs India as a manufacturing alternative to China, giving New Delhi structural bargaining power.
- India exited RCEP in November 2019; negotiations involved 15 Asia-Pacific economies.
- India's total bilateral trade with the US was approximately $129 billion in FY2024 (India's largest trading partner).
- India runs a goods trade surplus with the US, which has been a point of US negotiating pressure.
● Tracked since June 28, 2026 · last seen June 25, 2026 · updates as the daily brief publishes