Synopsis The existing plethora of scholarly writing has called attention to the political economy inspirations driving the proliferation of trade agreements, which generated less economic benefits. In one of my examinations, I found that our existing FTAs don't significantly affect our trade after controlling the political economy factors. Typically, nations do tend to sign trade agreements with whom they have a critical trading history. India did likewise under south-south collaborations, yet none of the current FTAs have produced any significant welfare gain. Pandemic has created lots of threats and opportunities simultaneously to the Indian economy. Since the fourth quarter of 2020, Indian trade shows signs of mild recovery, given some significant politico-economic changes in the international arena. Still, we have several uncertainties in the international negotiations front.