In a rather unexpected announcement, the Finance Ministry announced that it has started a review of India’s free trade agreement (FTA) framework following rumblings from policymakers and industry that these FTAs have served little purpose to improve India’s trade. Indeed, many stakeholders have complained that these agreements have benefitted partner countries more than India, while negatively impacting Indian manufacturers. While the Ministry has given no indication of what the review’s results might look like, given the pressure mounting from stakeholders, it looks likely that the current FTA framework’s days are numbered. Intriguingly, this comes against the backdrop of a renewed push by India to normalize and strengthen trade relations with the US, with Commerce & Industry Minister Piyush Goyal meeting Indian officials. US President Donald Trump has recently accused India of taking unfair advantage of WTO allowances, further flaring up tensions already running high after the US decision to withdraw GSP benefits for Indian goods. However, the recent meeting indicates that both sides wish to resolve matters amicably, and offer a cautious hint of reconciliation in the future. Similar sentiments have also been expressed by the Australian High Commissioner to India, who highlighted that Indo-Australian trade continues to rise steadily. Such growth will be required, especially given the recent poor performance of several export sectors, notably yarn and fabrics. The fall in shipments has forced many mills to close down as well, with more closures feared in the future. With the Indian government reviewing the FTA framework, it is imperative that steps are taken at the earliest to redeem the situation before it implodes.