Economic Reset |
Following up on my piece last week, the key learning is that, when it comes to economic policies, it is imperative for Islamabad to follow correct and practically pertinent examples from other global economies and not simply be duped by fancy presentations from foreign consultants or lenders—perhaps learning more from India, Bangladesh and even China in some areas, but certainly not from countries such as Morocco or Norway.
As we know, a Comprehensive Economic and Trade Agreement (CETA) deal between India and the United Kingdom (UK) came into effect last month, being the latest among the raft of free trade agreements that India has inked since 2021 to reset long-held assumptions about the Indian economy and its industrial structure.
The pattern we see is that, over the last five years, India has not merely changed its strategy and vision on trade policies, but, in a much larger context, it also seems to be resetting its very theory of growth. Essentially, from merely seeking rebated market access, such as GSP , poverty........