Home » Commerce and Industry » REGIONAL TRADE AGREEMENTS

REGIONAL TRADE AGREEMENTS

India is actively negotiating Regional Trade Agreements (RTAs)/Free Trade Agreements (FTAs) with the following countries/regions :

Sl. Countries/Regions Name of the Agreement
1 UAE India-UAE CEPA
2 Australia India – Australia Comprehensive Economic Cooperation Agreement (CECA)
3 Canada India – Canada Comprehensive Economic Partnership Agreement
4 Israel India – Israel Free Trade Agreement (FTA)
5 United Kingdom India-UK Enhanced Trade Partnership (ETP)
6 Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia India-Eurasian Economic Union (EAEU) Free Trade Agreement (FTA)
7 European Union India – EU Broad Based Trade and Investment Agreement (BTIA)
8 South Africa, Botswana, Lesotho, Swaziland and Namibia India – SACU PTA

India has signed 11 RTAs/FTAs with various countries/regions namely, Japan, South Korea, Mauritius, countries of ASEAN region and countries of South Asian Association for Regional Cooperation. India’s merchandise exports to these countries/regions have registered a growth of 20.75% in the last five years. As regards India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA), as this has been implemented w.e.f. 01-04-2021, it is too early to calculate quantifiable benefits. The following table gives country/region wise merchandise export details:

RTA partner countries/Region wise India’s exports

Values in US$ billion

India RTA partner Countries/region Names of RTAs Export in FY 2016 Export in FY 2021
ASEAN India-ASEAN FTA

India-Singapore CECA

India-Malaysia CECA

India-Thailand FTA – Early Harvest Scheme (EHS)

25.13 31.49
Japan India-Japan CEPA 4.66 4.43
South Korea India-South Korea CEPA 3.52 4.68
SAFTA Agreement on SAFTA

India-Sri Lanka FTA

India-Nepal Treaty of Trade

India-Bhutan Agreement on Trade, Commerce and Transit

18.60 22.08
Mauritius India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) It is too early to calculate quantifiable benefits for this RTA, as it was implemented only w.e.f. 10.04.2021.
Source: Directorate General of Commercial Intelligence and Statistics (DGCI&S)

As per the FDI data maintained by the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative investment received from the above countries/regions in the last 5 years (between October 2016 and September 2021) is to the tune of US$ 89.46 Billion. However, it is not possible to ascertain if investment from a country has taken place due to signing of an RTA or any other reason(s).

Review of RTAs/FTAs with South Korea, ASEAN and Singapore is under consideration.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel, in a written reply in the Lok Sabha today.

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

India’s total exports estimated to grow at 2.81% in July 2024.The cumulative overall exports during April-July 2024 estimated to grow at 6.65%.

India’s total exports (Merchandise and Services combined) for July 2024* is estimated at USD 62.42 ...

INDEX OF EIGHT CORE INDUSTRIES (BASE: 2011-12=100) FOR JUNE, 2024

The combined Index of Eight Core Industries (ICI) increased by 4.0per cent (provisional) in June, 2024 ...

Production of coal

Most of the demand of coal in the country is met through indigenous production/supply. The ...

DPIIT promotes green logistics industry balancing economic growth and environment

The Government recognizes the importance of sustainable logistics for India’s economic growth and environmental well-being. ...

Government provides incentives to small tea growers

The Tea Development & Promotion Scheme for the period 2023-24 to 2025-26 inter alia includes ...

EXPORT OF SEA FOOD

The current status of the export of seafood from the country is given below:-   ...

INDIA’S REAL GDP PROJECTED TO GROW BETWEEN 6.5–7 PER CENT IN 2024-25

India’s real GDP is projected to grow between 6.5–7 per cent in 2024-25. The Indian ...

INDIAN ECONOMY NEEDS TO GENERATE NEARLY 78.5 LAKH JOBS ANNUALLY IN THE NON-FARM SECTOR UNTIL 2030 TO CATER TO THE RISING WORKFORCE

With the global labour market amidst a ‘disruption,’ and constantly being reshaped by the fourth ...

Air Pollution caused by Stubble Burning

The Ministry of Environment, Forests and Climate Change has identified Crop Residue Management as one ...

Combined Index of Eight Core Industries (ICI) increases by 5.2 per cent (provisional) in March, 2024 as compared to March, 2023

The combined Index of Eight Core Industries (ICI) increased by 5.2 per cent (provisional) in March, 2024 ...

WP2Social Auto Publish Powered By : XYZScripts.com