📷 Image: Wikimedia Commons / Bollywood Hungama
Business
Ajay Sethi Calls for Factories, Joint Ventures in India’s FTAs
✍️ government.economictimes.indiatimes.com
🗓 03 Oct 2026, 08:38 AM
👁 16
Ajay Sethi, a senior government official, has urged that India's free trade agreements should focus on creating factories and joint ventures, rather than merely increasing trade volumes.
Ajay Sethi, a senior official in the Ministry of Commerce, highlighted the need for India’s free trade agreements (FTAs) to move beyond mere trade volume growth. In a statement to the Economic Times, he emphasized that FTAs should actively promote the establishment of factories and joint ventures within the country.
Sethi pointed out that India’s existing FTAs with partners such as the United States, the European Union, Japan and ASEAN countries offer opportunities for deeper industrial collaboration. He argued that by encouraging foreign direct investment in manufacturing, the country can strengthen its supply chains and create high‑skill jobs.
The official noted that factories and joint ventures would facilitate technology transfer, improve productivity, and help India become a more resilient player in global trade. He called on policymakers to design FTA provisions that incentivise such investments.
The government is reportedly reviewing its trade strategy to align with these objectives, aiming to make India a more attractive destination for foreign investors seeking manufacturing footprints.
Sethi pointed out that India’s existing FTAs with partners such as the United States, the European Union, Japan and ASEAN countries offer opportunities for deeper industrial collaboration. He argued that by encouraging foreign direct investment in manufacturing, the country can strengthen its supply chains and create high‑skill jobs.
The official noted that factories and joint ventures would facilitate technology transfer, improve productivity, and help India become a more resilient player in global trade. He called on policymakers to design FTA provisions that incentivise such investments.
The government is reportedly reviewing its trade strategy to align with these objectives, aiming to make India a more attractive destination for foreign investors seeking manufacturing footprints.