From the Indian perspective, there have been many developments recently, which could affect agricultural trade, although the scale of impact is too uncertain to predict. The recent imposition of duties on Indian exports by Trump govt. has attracted reciprocal measures by Indian authorities and agricultural products, whose imports are already quite restricted, can be affected adversely.
The farming community is a big vote bank in India and none of the political parties can afford to disregard their sensitivities. Water sharing has gradually been emerging as a bone of contention between India and its neighbours, namely Pakistan, China and Bangladesh. Even within the Indian states, its a thorny issue.
Another issue could be the potential snowballing of tussle between the multinational giants and Indian farmers in various areas. For example, Pepsico recently sued Indian farmers for growing their patented variety of potatoes used in chips, which has drawn widespread condemnation from various parties. Likewise, action by multinationals against farmers could spillover to international arena, as domestic sentiments are very strong on these issues.
FDI in retail has been another area of interest. There has been widespread opposition to the likes of walmart setting shops in India, but they have managed to make inroads in some states. Any legislation altering status quo, will have drastic effect on Indian agricultural sector.
The developed countries have long been demanding the opening up of Indian markets for export of agricultural products, which has long been resisted in India. Any developments in this area could be very interesting and could potentially alter the entire Indian agricultural landscape.