Better late than never
India’s commerce minister Kamal Nath has announced his intention to present a national trade policy by the end of this month. That’s something to look forward to. Hopefully articulating an unambiguous policy will define where India’s national interests lie and avoid giving the appearance of a whimsical approach to foreign-trade.
Nagesh Kumar outlines five key thrusts that should be part of such a foreign trade policy: improve corporate excellence, encourage industrial R&D, gain expertise through overseas acquisitions, encourge FDI especially for exports and finally secure strategic market access.