PM IS ON FOREIGN TOUR

PM IS ON FOREIGN TOUR

9-JULY-ENG 2

RAJIV NAYAN AGRAWAL

ARA----------------------------The Prime Minister is currently on a tour of Indonesia, Australia, and New Zealand. After every foreign visit, the government highlights India's rising global stature—citing grand receptions, photo-ops, joint statements, and major MoUs. However, the true success of any foreign policy is ultimately determined by the nation's economy.

According to the government's own data, India's total exports (goods and services) stood at approximately $860 billion in the 2025-26 fiscal year. This is a record figure and certainly commendable. For me, both personally and professionally, the growth of India's exports is welcome news; increased exports open up new markets, bring in foreign exchange, and create opportunities for Indian industries. Yet, during the same period, total imports surged to around $979 billion, resulting in a total trade deficit of approximately $119 billion. In the merchandise trade sector alone, this deficit exceeded $333 billion. My concern lies not with export growth itself, but with its nature and quality. If exports are rising but imports are growing even faster, the trade deficit remains persistently high, and India's share in high-value manufacturing and technology products remains limited, then one must ask: how much is the country truly benefiting from our foreign policy and industrial strategy?

Every foreign visit sparks talk of billions of dollars in investments, strategic partnerships, and Free Trade Agreements (FTAs). However, the government should also disclose how many new factories have been established, the extent of technology transfer achieved, the number of high-paying jobs created, and the growth in India's high-value exports resulting from these agreements over the past decade.

The objective of foreign policy is not merely to cultivate a global image; it is to enhance India's competitiveness, reduce import dependency, acquire new technology, ensure energy security, and boost citizens' incomes. Photographs, applause, and headlines are fleeting—lasting only a day—whereas figures regarding trade balance, manufacturing capacity, export growth, and employment reflect the nation's true standing for years to come.