State Bank of India Chairman CS Setty stated on Saturday that the India-US trade agreement, together with other recently signed Free Trade Agreements (FTAs), is expected to have a highly beneficial effect on the Indian economy. He emphasized that these trade arrangements could enhance economic growth and strengthen bilateral trade relations.
Setty noted that the FTAs provide new opportunities for businesses by reducing trade barriers and encouraging investment. He also highlighted the potential for increased exports and improved market access as key advantages of these agreements.
**Why this matters**
Trade agreements like the India-US deal and other FTAs can play a crucial role in boosting economic activity by facilitating smoother cross-border trade. They help create a more favorable environment for businesses, potentially leading to job creation and stronger economic ties between countries. For India, these agreements may support its broader goals of economic expansion and global integration.
Source: NewsData