FTAs Key To Building Global Manufacturing Supply Chains In India: Arvind Virmani

Speaking in Delhi, Arvind Virmani, Member of NITI Aayog, explains the economic logic behind India’s Free Trade Agreements and their importance for the manufacturing sector. He highlights a golden opportunity for India over the next 10–15 years, driven by favourable global demographics and growing concerns over excessive concentration of manufacturing in a single country. Virmani says FTAs are designed to accelerate the creation of international manufacturing supply chains in India, particularly by partnering with developed economies where most multinational corporations are based. He points to recent FTAs with the UK, Oman and New Zealand, and underlines the strategic importance of the proposed India–EU FTA. While noting that the benefits of FTAs take time to materialise, he stresses that their real impact will be seen through increased foreign investment and supply chain integration, strengthening India’s position as a global manufacturing hub.