World Bank's Ajay Banga Urges India: Focus on Trade Opportunities, Not Just Tariffs
India
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CNBC TV18•29-01-2026, 17:46
World Bank's Ajay Banga Urges India: Focus on Trade Opportunities, Not Just Tariffs
- •World Bank Group President Ajay Banga advises India to prioritize trade opportunities over tariffs amidst global geopolitical tensions.
- •Banga highlighted India's signing of over 100 regional and bilateral trade pacts in the last two decades, citing the India-EU FTA as a key example.
- •He emphasized the growing importance of emerging markets like India, whose share in global trade has doubled from 20% to 40% in two decades.
- •The recently concluded India-EU FTA, dubbed the 'mother of all deals', will provide duty-free access for 93% of Indian shipments to the EU.
- •This FTA will create a market of approximately 2 billion people, linking India (world's 4th largest economy) with the EU (2nd largest economic bloc).
Why It Matters: Ajay Banga urges India to leverage trade opportunities and FTAs, like the EU deal, for economic growth.
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