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.