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Key Points

India has finalized five major trade agreements since 2021 covering key partners like UAE and Australia. The deals show mixed results with export growth but persistent trade deficits in some cases. Negotiations are advancing for new pacts with the EU US and several other nations. The government is also upgrading older agreements with ASEAN and South Korea to reflect current economic priorities.

Key Points: India Signs 5 FTAs in 5 Years with UAE Australia UK and More

  • India-UAE trade surged with petroleum driving imports
  • Australia pact boosted exports by 14% in 2023-24
  • UK deal signed but not yet implemented
  • Ongoing talks for EU US and 6 other FTAs
2 min read

India inked 5 FTAs in past 5 years, negotiations on for a few more: Jitin Prasada apprises Parliament

India inked 5 major trade deals since 2021 including UAE Australia and UK agreements while negotiating more FTAs reveals Commerce Minister Jitin Prasada

"Additionally the FTA has also led to a significant growth in Foreign Direct Investment - Jitin Prasada"

New Delhi, August 10

India has strengthened its trade ties over the past five years, signing five major Free Trade Agreements (FTAs) and progressing on several new deals, Minister of State for Commerce and Industry Jitin Prasada informed the Rajya Sabha in a written reply this week.

Congress member Jebi Mather Hisham asked the Minister to apprise the House about the number of international trade agreements that have been signed by India in the last five years, besides details of their implementation.

The agreements inked over the past 5 years include the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) implemented in 2021, the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) in 2024, and the India-UK Comprehensive Economic and Trade Agreement (CETA) signed in 2025, which is yet to come into force.

Trade data shared by the Union Minister shows mixed outcomes.

Under the India-Australia ECTA, exports grew 14 per cent in 2023-24 and 8 per cent in 2024-25, though the trade balance remained negative in both the latest fiscals.

The Mauritius trade deal maintained a consistent trade surplus, while trade with the UAE recorded significant growth in both exports and imports, primarily driven by petroleum products. A widening deficit has been noticed vis-a-vis the UAE.

For India-UAE FTA, core imports in 2024-2025 included Petroleum: Crude, Petroleum Products, and other related commodities. India's exports of agricultural products and pharmaceuticals have registered growth.

"Additionally, the FTA has also led to a significant growth in Foreign Direct Investment," the minister said in his reply.

The India-European Union Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to be implemented later this year once all parties complete their ratification processes.

Meanwhile, India has concluded negotiations for a Comprehensive Economic Partnership Agreement with Oman, and is in advanced talks for several other agreements, including the India-EU FTA, India-Australia Comprehensive Economic Cooperation Agreement (CECA), India-Sri Lanka Economic and Technology Cooperation Agreement, India-Peru FTA, India-Chile CEPA, India-New Zealand FTA, and a bilateral trade agreement with the United States.

Additionally, India is reviewing and upgrading older trade pacts such as the ASEAN-India Trade in Goods Agreement (2009) and the India-Korea CEPA (2009).

- ANI

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Reader Comments

A
Ananya R
While FTAs are important, government should ensure our small businesses and farmers aren't negatively impacted. The trade deficit with Australia is concerning - are we getting raw deal in some agreements?
V
Vikram M
The EU FTA has been in talks for over 15 years! When will our babus finalize this? Germany and France are huge markets for Indian IT and auto components. This delay is costing us billions.
S
Sarah B
As an expat in India, I'm impressed by the strategic approach. The Oman agreement could be game-changer for energy security. But India should negotiate harder on services sector - that's where real potential lies!
K
Karthik V
Upgrading old agreements with ASEAN and Korea is crucial. Our competitors like Vietnam are getting better terms. Make in India needs strong trade policies to succeed!
P
Priya S
Happy to see focus on pharma exports 💊 but government must ensure affordable medicines for Indians first. Some FTAs have led to medicine price hikes in other countries.

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