{"id":215913,"date":"2022-11-25T20:30:52","date_gmt":"2022-11-25T15:00:52","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=215913"},"modified":"2022-11-25T20:30:52","modified_gmt":"2022-11-25T15:00:52","slug":"india-australia-trade-pacts-ratification-is-good-but-staying-competitive-is-critical","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-australia-trade-pacts-ratification-is-good-but-staying-competitive-is-critical\/","title":{"rendered":"India-Australia trade pact\u2019s ratification is good, but staying competitive is critical"},"content":{"rendered":"\n<p><strong>Source<\/strong>&#8211; The post is based on the article <strong>\u201cIndia-Australia trade pact\u2019s ratification is good, but staying competitive is critical\u201d<\/strong> published in <strong>The Hindu <\/strong>on <strong>25th November 2022<\/strong>.<\/p>\n<p><strong>Syllabus: <\/strong>GS2- Bilateral groupings and agreements<\/p>\n<p><strong>Relevance: <\/strong>India-Australia trade and economic relations<\/p>\n<p><strong>News- <\/strong>The article explains the recently concluded free trade agreement between India and Australia.<\/p>\n<h5><strong>What are the strategic reasons behind this trade pact?<\/strong><\/h5>\n<p>Australia has been particularly upset with what it called the <strong>\u2018weaponization of trade\u2019<\/strong> by China.<\/p>\n<p>Countries across the world want to reduce their dependence on China as part of <strong>\u201cChina plus one strategy\u201d<\/strong>. They want to ensure a <strong>resilient supply chain<\/strong>.<\/p>\n<p>There is growing strategic convergence between India and Australia. Both are part of strategic groupings like<strong> Quad, the trilateral Supply Chain Resilience Initiative and the Indo-Pacific Economic Forum (IPEF)<\/strong>.<\/p>\n<h5><strong>What is the way forward for India?<\/strong><\/h5>\n<p>It is critical to remember that trade deals open new doors. They do not automatically mean higher exports or better trade balances, as India\u2019s past pacts with ASEAN and Japan have shown. India should increase its overall global competitiveness.<\/p>\n<p><strong>For further reading<\/strong>&#8211; <a href=\"https:\/\/forumias.com\/blog\/india-australia-trade-pact\/\">https:\/\/forumias.com\/blog\/india-australia-trade-pact\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source&#8211; The post is based on the article \u201cIndia-Australia trade pact\u2019s ratification is good, but staying competitive is critical\u201d published in The Hindu on 25th November 2022. Syllabus: GS2- Bilateral groupings and agreements Relevance: India-Australia trade and economic relations News- The article explains the recently concluded free trade agreement between India and Australia. What are&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-australia-trade-pacts-ratification-is-good-but-staying-competitive-is-critical\/\">Continue reading <span class=\"screen-reader-text\">India-Australia trade pact\u2019s ratification is good, but staying competitive is critical<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10498],"class_list":["post-215913","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704923327},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/215913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=215913"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/215913\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=215913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=215913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=215913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}