The OECD, in its publication on the Economic Outlook, identifies key metrics for the Indian macroeconomic landscape. The document identifies real GDP growth for India at 6.2 per cent in 2026-27 and 6.4 per cent in 2027-28. It further notes that the impact of the higher tariffs applied by the United States had been expected to weigh on exports. However, private consumption will be supported by rising real incomes as inflation remains low and consumption taxes decline.

With the WTO edging towards increased fragmentation, ‘regionalism’ and bilateralism in trade have become the norm. India has realised this growing consensus and has been working to remedy its trade measures by opening up its routes to economic superpowers. India’s approach to trade agreements can be understood in four trends. First, it has concluded agreements with developed countries to increase its access to those markets. Second, it has agreements with most of the countries forming part of the Regional Comprehensive Economic Partnership despite not being part of the regional agreement. Third, it has targeted specific geographies. Lastly, it is seeking to conduct negotiations with significant bilateral partners.