India must strengthen its trading ties with neighbouring countries, including China, a USD 18 trillion economy that cannot be ignored, NITI Aayog CEO BVR Subrahmanyam has said.

He also hinted that a new round of economic reforms is likely to be unveiled before Diwali, following the rollout of GST 2.0. Subrahmanyam noted that a committee headed by NITI Aayog member Rajiv Gauba has already submitted its first set of reports outlining these proposed reforms.

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He further said that while the entire European Union trades 50 per cent within itself, Bangladesh is India's 6th biggest trading partner and Nepal used to be in the top 10, stressing on the need to increase trade with neighbouring countries.

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