India's Trade Deficit Challenges, Policies, Insights, and SDG Impacts
India's Trade Deficit Challenges, Policies, Insights, and SDG Impacts Introduction : India's trade deficit has reached a staggering $245.5 billion, making it the second-highest deficit globally. This significant imbalance between imports and exports poses challenges to the nation's economic growth and stability. To address this issue, India has implemented various policies and initiatives, each with its own unique challenges and potential impacts on the Sustainable Development Goals (SDGs). This article aims to provide insights into India's trade deficit challenges, existing policies, their impacts, and how they compare to strategies adopted by developed nations. Existing Policies and Challenges: 1. Atmanirbhar Bharat Abhiyan: Objective :Boost domestic manufacturing and reduce import dependency. Challenges : India still relies heavily on imported raw materials in key sectors, limiting the effectiveness of this policy. SDG I...