Check this out: India’s biggest trading partners are the U.S., China, the EU and the GCC countries. But we don’t have any free trade agreement with them. Result, India’s major exports such as textiles and pharma face a wall of tariffs. The EU levies 9.6 per cent tariff on Indian textiles (vis a vis zero tariff on similar exports from Bangladesh and Pakistan since they are least developed countries). The word is if the current Indian government returns, it may fast track negotiations on the Regional Comprehensive Economic Partnership with key Asian partners like China.