Regional Trade Agreements
India is actively negotiating
Regional Trade Agreements (RTAs)/Free Trade Agreements (FTAs) with the following
countries/regions:
|
Sl.No |
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 on
15 December, 2021.