Evaluating India’s Foreign Trade Policies: Economic Impact (2015-2020) & 2023 Framework

This study evaluates the economic impact of India's Foreign Trade Policy (FTP) 2015–2020 and analyzes the framework of FTP 2023. Employing econometric models, the research finds a significant relationship between key FTP variables and India’s GDP, highlighting the nuanced impact of trade policies. Specifically, the analysis reveals a strong correlation between GDP and factors such as export and import volumes, foreign exchange rates, and tariff measures, alongside an unexpected negative correlation with FDI. The FTP 2023 framework is assessed for its strategic shift towards enhanced global competitiveness, digital trade facilitation, and export diversification. These findings offer valuable insights for policymakers seeking to optimize trade strategies for sustainable economic growth and effective integration into the global economy.