Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
India actively engages in regional and bilateral trade negotiations to diversify and expand its export markets while ensuring access to the raw materials, intermediates, and capital goods needed to stimulate value-added domestic manufacturing.
Presently, India shares preferential market access and economic cooperation through trade agreements with over 50 countries. The following table lists the major bilateral and regional agreements that India has signed and implemented:
|
S.No. |
Acronym |
Grouping |
Member Countries |
FTA/PTA |
|
|
|
|
Number |
Names |
|
|
|
1 |
APTA |
Asia Pacific Trade Agreement |
6 |
Bangladesh, China, India, Lao PDR, Republic of Korea, Sri Lanka. |
PTA |
|
2 |
India ASEAN TIG |
India ASEAN Trade in Goods Agreement |
11 |
Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, and India. |
FTA |
|
3 |
GSTP |
Global System of Trade Preferences |
42 |
Algeria, Argentina, Bangladesh, Benin, Bolivia, Brazil, Cameroon, Chile, Colombia, Cuba, Republic of Korea, Ecuador, Egypt, Ghana, Guinea, Guyana, India, Indonesia, Iran, Iraq, Libya, Malaysia, Mexico, Morocco, Mozambique, Myanmar, Nicaragua, Nigeria, Pakistan, Peru, Philippines, Republic of Korea, Singapore, Sri Lanka, Sudan, Thailand, Trinidad and Tobago, Tunisia, Tanzania, Venezuela, Vietnam, Zimbabwe. |
PTA |
|
4 |
IBSA |
India Brazil and South Africa |
3 |
India, Brazil, and South Africa. |
Under negotiation |
|
5 |
SAFTA |
South Asia Free Trade Agreement |
7 |
India, Pakistan, Nepal, Sri Lanka, Bangladesh, Bhutan, and the Maldives |
FTA |
|
6 |
ISLFTA |
Indo Sri Lanka Free Trade Agreement |
2 |
Sri Lanka, India |
FTA |
|
7 |
IMCECA |
Indo Malaysia Comprehensive Economic Cooperation Agreement |
2 |
Malaysia, India |
FTA |
|
ISCECA |
India Singapore Comprehensive Economic Cooperation Agreement |
2 |
Singapore, India |
FTA |
|
|
9 |
JICEPA |
Japan India Comprehensive Economic Partnership Agreements |
2 |
Japan, India |
FTA
|
|
10 |
IKCEPA |
India Korea Comprehensive Economic Partnership Agreements |
2 |
South Korea, India |
FTA |
India and United States
There is no trade agreement between India and the United States. In April 2018, the United States launched an eligibility review of India’s compliance with the General System of Preferences (GSP) market access criteria, and in March 2019 decided that India no longer met the criteria and revoked India’s GSP status. Termination of GSP benefits removed special duty treatment for $5.6 billion of Indian exports to the United States, affecting India’s export-oriented sectors such as pharmaceuticals, textiles, agricultural products, and automotive parts. The United States and India continues to hold discussions on trade issues.