As Indian Commerce Minister Piyush Goyal visits New Zealand this week, conversations around a possible NZ–India Free Trade Agreement are taking on new momentum.

Economic analyst and author Pranjal Sharma speaks to the Asia Media Centre about India’s shifting trade strategy, the role of talent and innovation, and why trust and long-term partnership will matter just as much as market access.

Pranjal Sharma is an economic analyst and author who examines how technology, globalisation and shifting geopolitics are shaping the future of growth.

With a background in Economics and postgraduate studies in Media from the University of Westminster in London, he has spent more than 30 years working across journalism, policy and advisory roles.

He has been closely involved with the World Economic Forum, serving on its Global Agenda Council for eight years and continuing as part of its Expert Network.

Pranjal also advises organisations and non-profits working with emerging technologies to support sustainable and inclusive development.

His latest book, The Next New, explores the rise of the Fifth Industrial Revolution and how it is transforming industries. His earlier books, India Automated and Kranti Nation, were among the first to document the impact of automation and digital transformation in India. He is based in New Delhi.

1. Minister Piyush Goyal is visiting New Zealand this week for talks on the proposed FTA. What does this visit signal about where the negotiations stand and how serious India is about concluding the deal?

India has initiated FTA talks with all its partners in right earnest with clear objectives of rapid conclusion. India is keen to move fast and seal FTAs to counter the rising turbulence in global trade and supply chains.

2. India has been signing trade agreements at a faster pace in recent years, including with Australia and the UAE. What do you think is driving this new momentum and confidence in India’s trade policy?

India has always maintained a multi-alignment policy. India has strong trade and investment linkages with nearly all regions of the world. The decline of WTO and the multilateral trading system led to India’s focus on FTAs.

The recent geopolitical uncertainties have accelerated the momentum in the trade policy.

The underpinning of the strategy is simple. India does not want to be over reliant on any single country for trade and investment.

Over-reliance on any country for a specific good or service can prove to be a weakness. In some cases, such over reliance can also be weaponised for geo-political goals. A wider range of FTAs will ensure that India is able to de-risk its trade basket across many partners.

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Asia Media Centre

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