PricewaterhouseCoopers (PwC) said businesses need to be aware of the regulatory barriers in climate change, labour protection, gender inclusivity and e-commerce, areas which were not part of India’s earlier free trade agreements (FTAs).
It also said in a report that anticipating the impact of the upcoming FTAs on the supply chains can help businesses review sourcing strategies to design resilient supply chains.
India has inked trade pacts with the UAE, Australia and Mauritius recently, and is in talks with the UK, EU, Canada and Israel.
In the past, India was not keen to include aspects such as climate change, labour protection, gender inclusivity and digital trade or e-commerce in FTAs, it said.
“However, the country has demonstrated a willingness to negotiate these issues in modern FTAs. Thus, businesses need to be aware of regulatory barriers in these areas for the modern FTAs,” said the PwC report titled ‘Business imperatives of modern FTAs’.