New Delhi, Dec. 22 -- India's exports are heavily dependent on the US, and are currently under threat due to high tariffs. But hidden in numbers is another simple story: the region that could boost Indian exports is not across the Pacific, but across its borders. India barely trades with its neighbours and leaves value on the table every year, even before new global barriers emerged.

India's trade with its neighbours-Pakistan, Bangladesh, Nepal, Afghanistan, Bhutan and Sri Lanka-was $30 billion in FY25, accounting for only 2.7% of total trade. Worse, trade with all neighbours except Bhutan has declined since 2021, even as global trade has remained stable. The reasons are several: terror attacks, political tension, domestic unrest, limite...