Ministry of Commerce & Industry
REGIONAL TRADE AGREEMENTS
Posted On:
15 DEC 2021 6:31PM by PIB Delhi
India is actively negotiating Regional Trade Agreements (RTAs)/Free Trade Agreements (FTAs) with the following countries/regions :
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Sl.
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Countries/Regions
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Name of the Agreement
|
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1
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UAE
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India-UAE CEPA
|
|
2
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Australia
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India - Australia Comprehensive Economic Cooperation Agreement (CECA)
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|
3
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Canada
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India – Canada Comprehensive Economic Partnership Agreement
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|
4
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Israel
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India – Israel Free Trade Agreement (FTA)
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5
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United Kingdom
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India-UK Enhanced Trade Partnership (ETP)
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6
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Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia
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India-Eurasian Economic Union (EAEU) Free Trade Agreement (FTA)
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7
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European Union
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India - EU Broad Based Trade and Investment Agreement (BTIA)
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8
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South Africa, Botswana, Lesotho, Swaziland and Namibia
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India - SACU PTA
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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:
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RTA partner countries/Region wise India’s exports
Values in US$ billion
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|
India RTA partner Countries/region
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Names of RTAs
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Export in FY 2016
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Export in FY 2021
|
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ASEAN
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India-ASEAN FTA
India-Singapore CECA
India-Malaysia CECA
India-Thailand FTA - Early Harvest Scheme (EHS)
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25.13
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31.49
|
|
Japan
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India-Japan CEPA
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4.66
|
4.43
|
|
South Korea
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India-South Korea CEPA
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3.52
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4.68
|
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SAFTA
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Agreement on SAFTA
India-Sri Lanka FTA
India-Nepal Treaty of Trade
India-Bhutan Agreement on Trade, Commerce and Transit
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18.60
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22.08
|
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Mauritius
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India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA)
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It is too early to calculate quantifiable benefits for this RTA, as it was implemented only w.e.f. 10.04.2021.
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Source: Directorate General of Commercial Intelligence and Statistics (DGCI&S)
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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.
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