India Benefits from FTAs: RAI CEO

Singapore, Jun 8 (PTI) India has emerged as a “great place” to use the advantages accruing from Free Trade Agreements (FTAs), a senior retail industry official said as he highlighted the success of Make in India programme.

“We are among the most attractive markets, with a growing young population that makes us one of the world's largest consumer markets with insatiable demand for the best in the world,” said Retailers Association of India (RAI) CEO Kumar Rajagopalan at an event here.

FTAs will also give Indians access to items that get manufactured abroad at a more convenient pricing, he added.

But he was also quick to dismiss notions of dumping cheap inferior goods into the Indian market, pointing out that the country has created laws that can protect against such trade-damaging practices, and that can be challenged at the World Trade Organization.

According to Kumar, a trade veteran of 40 decades, a full-fledged quality control checking system is in place to ensure Indian consumers are getting the best products as imports of edibles is set to increase following the signing of more and more FTAs by the Indian government in an endeavour to reach out the global markets.

India has always imported consumer products from around the world but in recent years with the economic prosperity momentum picking up, the country has become “more and more attractive as a consumer-driven market”, given the young population with rising income seeking the best quality, cost-effective, long-lasting and appealing products, Kumar pointed out.

FTAs are increasing India's bilateral trade globally, covering value-added high-end and heavy-duty industrial products to edibles such as soybeans, cheeses, vines and beverages.

RAI leads about 2,500 members, mostly retailers at national level, with an annual business volume of about USD 900 billion, that is set to grow at 10 per cent annually.

Speaking to PTI after participating in the National Retailers Federation's 2025 for Asia Pacific held in Singapore during June 3-6, Kumar pointed out that the Make in India programme is producing world-class high-standard products both for the domestic market as well as export, “thanks to the FTAs opening more export opportunities”.

Kumar also sees competition from world-class products for Make in India. "Imports and exports will create a competitive landscape and we will see further upgrades in manufacturing processes within India to make globally-rated products be it hardware, software and or edibles.”

India, he said, produces agri and non-agri products for consumers as well as industrial plants for the world.

He said that 85 per cent of the 7,00,000 stores in India are still operating in traditional formats, ranging from the corner shop Kiraana to single store supplying everything in the range of garments and edibles, competing with mega modern-day fast-pace trading department stores, online and offline supply chain operators.

Fast and quick-commerce have reduced delivery time to 10 minutes while e-commerce and online payments have made retailing business easier and prompt, he observed.

A latest example of India made products from design to garment production is Mumbai-headquartered “Fynd”, an artificial intelligence-driven commerce platform that is serving the Indian market as well as the Middle East and Africa markets.

NRF 2025 had 9,500 trade visitors from over 72 countries, alongside participation from 240 exhibitors and sponsors, and 150 conference speakers.