Roundtable flags challenges in trade policy, calls for sectoral consensus
MUMBAI: The Centre for Policy Research and Governance (CPRG) flagged key challenges in India's trade policy at a roundtable held in Mumbai on Tuesday, calling for stronger coordination across industry, finance, and policy institutions to address rising trade barriers.
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The session, part of CPRG's ongoing Trade Roundtable Series, focused on the impact of tariff and non-tariff hurdles on steel and aluminum industries and the role of trade finance in ensuring resilience.
Hosted at the National Stock Exchange (NSE), the roundtable brought together representatives from financial institutions, manufacturing firms, policymakers, and regulatory bodies. Discussions highlighted how India must adopt a proactive and strategic approach to protect its economic interests amid shifting global trade dynamics.
Ashish Chauhan, managing director and CEO of NSE, underlined the potential of India's services sector. 'Our strategy need not be reactionary. While we may work on improving goods exports with finance, technology upgradation, incentives, policies and trade deals, our services and experience-driven sectors have boundless potential,' he said.
Senior RSS functionary, Sunil Ambekar, noted the importance of recalibrating India's trade position.
'India has always welcomed international trade, but it's now vital to assert our interests with clarity and strength,' he said. 'This is the right time to strategically renegotiate our trade positions in line with national priorities.'
Participants also discussed trade-related priorities such as enhancing the competitiveness of GIFT City, integrating the Unified Payments Interface (UPI) into international trade finance, and aligning trade benefits across multinational corporations and MSMEs.
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CPRG director Ramanand said the roundtable was aimed at fostering cross-sector alignment. 'Continuous dialogue between economists, industry, and institutions is essential to navigate the complexities of the global trade landscape. Our approach should be to build consensus among all stakeholders while also holding India's economic interests on priority,' he said.
The CPRG Trade Roundtable Series will continue with sector-focused discussions. The next session is scheduled for June 30 in Delhi and will involve stakeholders from manufacturing and startup sectors.
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