Watch | ‘India’s Private and Public Sectors Must Unite to Build Industrial Resilience’

We are at an inflection point, where the multilateral world order is increasingly being threatened by conflicts and unilateral policies.

Global trade has shifted from local exchange to complex global value chains, shaped by digital technology, trade liberalization, and the rise of multinationals. Moreover, multilateral trade frameworks are under stress due to the collapse of the Doha Round, rising protectionism, and US-China tensions that have undermined WTO functionality. 

Post-COVID, global trade has been redefined through supply chain resilience strategies and the growing influence of the 4Gs—Geopolitical, Geo-technological, Geo-religious, and Geoeconomic forces. 

But more than a threat, it’s a portentous moment for India, where it needs to improve domestic industrial resilience to face an increasingly uncertain world.

If you missed our webinar on ‘The Future of Global Trade: Challenges, Opportunities and India’s Role’, here are some key insights.

What is Being Done by India and Partner Countries: 

• Despite geopolitical tensions, trade disputes are being addressed through diplomatic channels, reinforcing the value of dialogue.
  
  
• Simultaneously, there’s also trade capacity-building amongst several economies like India and their partner countries to strengthen regional and multilateral economic integration. 
  
  
• India is climbing the value chain by expanding high-tech exports and investing in R&D to strengthen its global competitiveness. 

• The 'Make in India' initiative is being repositioned to serve global markets, aiming to establish India as a manufacturing hub. 

• India is deepening strategic trade ties with the US, EU, and MFN partners, while asserting leadership in the Global South through regional and bilateral trade frameworks. 

• India, along with other countries, is actively pushing for WTO reforms through multilateral platforms like the G20.

What India Needs to Do Going Forward: 

• Revive the WTO dispute resolution system and reinforce multilateralism to ensure stable trade governance. 

• Improve infrastructure and logistics and create a predictable investment climate to scale manufacturing and attract global capital. 

• Broaden its trade focus to new markets and adopt lessons from competitive manufacturing peers like Vietnam and Cambodia.

What More Should India Prioritise:

• Engage actively in strategic forums like the Quad, G20, and Global Business Councils to shape trade norms and partnerships. 

• Support advanced manufacturing and logistics integration through targeted industry policies and institutional linkages. 

• Champion Global South interests while focusing on real, scalable manufacturing capabilities over perception-driven narratives.