India Strengthens Global Trade Ties with Strategic FTA Agreements

India is capitalizing on Free Trade Agreements to ensure market certainty and enhance services exports. With robust export growth in 2024, India signed influential agreements with ASEAN, EFTA, and others, driving economic partnerships. Agricultural and traditional exports see significant growth, reflecting strategic trade expansions.

India is strategically enhancing its international trade by leveraging Free Trade Agreements (FTAs), ensuring market certainty and a non-discriminatory regulatory environment. This approach has led to robust export growth in 2024, as highlighted by the Department of Commerce's Year End Review.

The country has established significant bilateral trade agreements with nations such as Singapore, South Korea, Japan, and the UAE, and has signed an FTA with ASEAN. Notably, the India-EFTA Trade and Economic Partnership Agreement was signed in March 2024. India is also in active FTA negotiations with the UK, the EU, and others, aiming to expand its trade in services.

India's total exports between April to October 2024 surged by 7.3 percent, reaching USD 468.5 billion, while imports grew by 7.1 percent. Key sectors like agriculture, engineering, and electronics have shown positive growth, cementing India's leadership in both traditional and emerging export markets.

(With inputs from agencies.)