The document discusses India's experience with free trade agreements (FTAs), suggesting they have primarily resulted in more diplomatic ties rather than significant financial gains. Trade experts question whether India's approach has been effective or if it risks exacerbating the trade deficit in pursuit of foreign policy goals. The analysis reflects skepticism about the effectiveness of India's FTA strategy amidst ongoing global trade dynamics.

1. Of the many free trade agreements that India has signed till date, most have won
it more 'friendship' and less 'precious forex'. Has the world's largest democracy
simply chosen to risk its trade deficit for the sake of foreign policy?
Senna leaves
Small herb, big idea!
A product that defies even a slowdown
Bedspreads
Exporting comfort for a fortune...
India dominates global supply. Wonder why?
Diammonium phosphate
Chemically made, naturally profitable
Import idea born out of an obsolete policy
www.thedollarbusiness.com Vol.3 Issue 06 June 2016 100 $2
BHARAT SALHOTRA
Managing Director, Alstom India
R. K. DALMIA
CFO, Century Textiles & Industries;
Chairman, TEXPROCIL
SUDHIR HASIJA
Chairman, Karbonn Mobiles
MAHESH GUPTA
CMD, Kent RO Systems
NAVIN CHAWLA
Chief Operating Officer, Lava International
RAJIV BHUSHAN TIWARI
Chief Commissioner of Customs, Bengaluru
...AND MORE!
EXCLUSIVE INSIDE

2. 8 THE DOLLAR BUSINESS II JUNE 2016
Volume: 3 Issue: 06 June 2016
www.thedollarbusiness.com
facebook.com/tdbIndia
twitter.com/TheDollarBiz
in.linkedin.com/in/thedollarbusiness/
COVER STORY32
Of the many free trade
agreements (FTAs)
that India has
signed till date, most
have won more
‘friendship’ and
less ‘precious forex’.
Several trade experts
and economists share
similar opinions. Has
India’s FTA experience
been in most parts a case
of ‘trial and error’ gone
wrong? Or has the world’s
largest democracy simply
chosen to put to risk its trade
deficit for the sake of foreign
policy? The Dollar Business
analyses...
President (VMPL) : Steven Philip Warner
& Editor-in-Chief
EDITORIAL & RESEARCH
Editor : Manish K. Pandey
Executive Editor : Indranil Das
Associate Editor (Print) : Andres M. Molier
Associate Editor (Online) : Sheela Mamidenna
Sr. Assistant Editors (Print) : Sisir Kumar Pradhan,
Assistant Editors (Print) : Neha Dewan, Ahmad Shariq Khan,
Sairaj Iyer
Assistant Editors (Online) : N. Sharath Chowdary,
Aamir Hussain Kaki
Principal Correspondent : Deepak Kumar
Correspondents : Aadhira Anandh M., Jasleen Kaur,
Pooja Jain
EDITORIAL CONSULTING BOARD
Founder & Editor : Anil Goyal
Publisher : Avnish Goyal
Chief Consulting Editor : Dr.A. K. Sengupta
Editorial Advisors : Dr. N.K. Goyal (CMAI),
Atul Kumar Saxena (IIA)
ADVERTISEMENT SALES & MARKETING
Vice-President : Aninda Mondal
Associate Vice-President : Lalit Seth
Manager : Santosh Pandey, Vipul Singhal
Executive : Maleeha Mushtaq
InternationalRepresentatives
Seoul(SouthKorea) : Justin Yoon (+82-2-6241-4256)
London(UK) : S. Puri (+44 207 376 1996)
ART & PHOTOGRAPHY
Art Director : Sujesh Kumar G.
Senior Designer : Shaik. Masthan Vali
Designer : Gopal Ganesh Reddy
Photographer : Dileep Kumar
THE DOLLAR BUSINESS ONLINE
Sr. Web Developer : P. Surendra Babu
SEO Manager : Sangameshwar Soma
SEO Specialist : Praveen Kukunarapu
Asst. Mgr. (Data & Metrics) : C. Dileep Reddy
Associates (Data & Metrics) : Dinesh Reddy, Bhanu Prasad
CIRCULATION, SUBSCRIPTION & DISTRIBUTION
General Manager : S. S. Sudesh
Manager - Subscription : M. Vinay Kumar
Assistant Managers : Sanjeev Jain, Buddhi Sagar Pandey,
Rajneesh Laroiya
HR, FINANCE & LOGISTICS
Sr. Manager – HR : Rasanpreet Kaur
Manager – Accounts : Parchuri Jhansi
Asstt. Manager : Helen Mary
Sr. Executives : Swati Sharma, Ganesh Alagonda
Associate : Inderkant Padampalle
PRINTER
Kala Jyothi Process Pvt. Ltd.,
1-1-60/5, RTC Cross Road, Musheerabad, Hyderabad, Telangana 500020, IN
PUBLISHED AT
5-2-198/4, Distillery Road, Ranigunj, Secunderabad, Telangana 500003, IN
FOR EDITORIAL/CONTENT
Email: editorial@thedollarbusiness.com
FOR ADVERTISEMENT
Email: ads@thedollarbusiness.com
FOR SUBSCRIPTION
Email: subscription@thedollarbusiness.com . +91-40-67609999
For queries / comments you can send us an SMS at +91-888-633-1947
© Copyright 2016
No part of this magazine may be reproduced in whole or in part without an ex-
pressed permission of the publisher. The information on this magazine is for
information purpose only. Manish K. Pandey, Editor, The Dollar Business, is re-
sponsible for the selection of news and content under PRB Act. Vimbri Media Pvt.
Ltd. assumes no liability or responsibility for any inaccurate, delayed or incomplete
information, or for any actions taken in reliance thereon. The information contained
about each individual, event or organisation has been provided by such individual,
event organisers or organisation without verification by us. All disputes are subject
to exclusive jurisdiction of competent courts and forums in Hyderabad, Telangana.
Printed and published by Avnish Goyal for Vimbri Media Pvt. Ltd. Published at
5-2-198/4, Distillery Road, Ranigunj, Secunderabad - 500 003, Telangana.
Printedat:KalaJyothiProcessPvt.Ltd.,1-1-60/5,RTCCrossRoads,Musheerabad,
Hyderabad - 500 020, Telangana.
FREE TRADE
AGREEMENTS:
IS INDIA ON
THE RIGHT
TRACK?
JUNE 2016 II THE DOLLAR BUSINESS 9
INBOX
LETTERS TO THE EDITOR
Readers’ feedback, criticism, and
appreciation that hit our mailboxes
in May 2016
MONOLOGUE
PEOPLE SPEAK
From Arun Jaitley on the GST Bill
to Barack Obama on America’s role
in the TPP, and more...
GLOBAL TRADE
The growing trade deficit in UK;
trade relations between Malaysia
and Iran, EU-Mercosur beef trade
and more..
INDIA TRADE
From the Chabahar agreement be-
tween India, Iran and Afghanistan
to India-Oman defence cooperation
and much more..
SPOTLIGHT
INDONESIA
The largest Southeast Asian econ-
omy is rich in natural resources
BESTSELLER
DI-AMMONIUM PHOSPHATE
A policy conundrum helps
importers but not producers
THE MIDAS TOUCH
BEDSPREAD
Why exporting bedspreads from In-
dia makes for a profitable business
SECRET INGREDIENT
SENNA LEAVES
India is the largest exporter, but
there is need for value addition
SPECIAL FEATURE
MOBILE PHONES
Mobile manufacturers are increas-
ingly looking at making in India
POLICY FOCUS
IEIS
DGFT has relaxed norms, but is
it too little and too late to stem the
decline in exports?
DOCKYARD
ICD WHITEFIELD
It’s one of India’s premier ICDs
and successfully serves the EXIM
fraternity of the South
TDB FORUM
Questions about foreign trade that
hit our mail box in May 2016
DATEBOOK
Some trade shows you shouldn’t
miss out in India and abroad in
June and July 2016
RAJEEV MISHRA
DIRECTOR, UM INDIA
On the growth of niche
motorcycles’ segment in India
MAHESH GUPTA
CMD, KENT RO SYSTEMS
Reveals his company’s export
plans for the Middle East
BHARAT
SALHOTRA
Managing Director,
Alstom India
TAUFIK RIGO
FIRST SECRETARY – ECONOMIC AFFAIRS,
EMBASSY OF THE REPUBLIC OF INDONESIA
Speaks about the need for a more cohesive trade
cooperation between India and Indonesia
56
76
90
10
12
14
20
64
70
78
84
92
94
58
52
26
28
RAJAN
MALHOTRA
Chairman, Project Exports
Promotion Council (PEPC)
82

3. 32 THE DOLLAR BUSINESS II JUNE 2016
FREE TRADE
AGREEMENTS:
IS INDIA
ON THE RIGHT
TRACK?
India has always been running about with bells on, when it comes
to free trade agreements (FTAs), ever since the literal collapse of
the WTO Doha Round. However, of the FTAs that it has signed till
date, most have won more 'friendship' and less 'precious forex'.
Several trade experts and economists share similar opinions.
Has India's FTA experience been in most parts a case of 'trial and
error' gone wrong? And despite having seen the little gains from
these agreements, is India still backing the wrong horses when
it comes to choosing FTA partners? Or has the world's largest
democracy simply chosen to put to risk its trade deficit for the
sake of foreign policy? The Dollar Business analyses...
THE DOLLAR BUSINESS INTELLIGENCE UNIT
COVER STORY FREE TRADE AGREEMENTS
JUNE 2016 II THE DOLLAR BUSINESS 33

4. Subscribe to read the
full magazine