India has signed 13 Regional Trade Agreements (RTAs)/Free Trade Agreements (FTAs) with various countries/regions
India has signed 13 Regional Trade Agreements (RTAs)/Free Trade Agreements (FTAs) with various countries/regions namely, Japan, South Korea, countries of ASEAN region and countries of South Asian Association for Regional Cooperation (SAARC)Mauritius, United Arab Emirates, Australia. India’s merchandise exports to all these countries/regions have registered a growth in last ten years.
The following table gives country/region wise merchandise export details:
|
India’s exports - RTA Partner Countries/Region wise
Values in US$ billion
|
|
India’s
RTA partner Countries/region
|
Names of RTAs
|
Export in 2011
|
Export in 2021
|
|
ASEAN
|
India-ASEAN FTA
India-Singapore CECA
India-Malaysia CECA
India-Thailand FTA - Early Harvest Scheme (EHS)
|
34.5
|
40.6
|
|
Japan
|
India-Japan CEPA
|
5.6
|
6.1
|
|
South Korea
|
India-South Korea CEPA
|
4.6
|
7.0
|
|
SAFTA
|
Agreement on SAFTA
India-Sri Lanka FTA
India-Nepal Treaty of Trade
India-Bhutan Agreement on Trade, Commerce and Transit
|
13.0
|
31.6
|
|
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.
|
|
United Arab Emirates
|
India-UAE CEPA
|
It is too early to calculate quantifiable benefits for this RTA, as it was implemented only w.e.f. 01.05.2022.
|
|
Australia
|
India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA)
|
This RTA has been signed on 02.04.2022, but not yet implemented.
|
|
Source: Directorate General of Commercial Intelligence and Statistics (DGCI&S)
|
In addition, India has also signed 6 Preferential Trade Agreements (PTAs) including Asia Pacific Trade Agreement (APTA).
All of India’s RTAs, as listed in the table above, have exit clauses.
Article 32 of Asia Pacific Trade Agreement (APTA) mentions that “Any Participating State may withdraw from this Agreement, such withdrawal to take effect six months following the day on which written notice of the same is served to the Participating States through the Executive Secretary of ESCAP. The rights and obligations of a Participating State which has withdrawn from this Agreement shall cease to apply as of that date”.
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.
***
AM/MS