India Strengthens Global Trade Ties with Six Key Free Trade Agreements

India is intensively pursuing Free Trade Agreements (FTAs) with Australia, Sri Lanka, Peru, Chile, the Eurasian Economic Union, and Israel, among others, to boost global trade relations. These negotiations are part of India's strategic efforts to enhance market access and secure comprehensive trade partnerships, according to the Ministry of Commerce.

India is making significant strides in its international trade relations by negotiating six Free Trade Agreements (FTAs) with key countries and regional blocs. Information from the Ministry of Commerce reveals ongoing talks with Australia, Sri Lanka, Peru, Chile, the Eurasian Economic Union (EAEU), and Israel, aimed at strengthening trade partnerships.

The India-Australia Comprehensive Economic Cooperation Agreement (CECA) witnessed substantial progress, with 11 rounds of negotiations executed since February 2023. In parallel, India has been working on the India-Sri Lanka Economic and Technology Cooperation Agreement (ETCA) since 2015, recently concluding the 14th round of talks in July 2024.

India's engagement with Peru is illustrated by the nine negotiation rounds held since discussions began in 2017. Meanwhile, talks have commenced with Chile for a Comprehensive Economic Partnership Agreement (CEPA), while India has initiated FTAs with EAEU and Israel. These negotiations are part of a larger goal to enhance global trade reach and deepen economic partnerships.

(With inputs from agencies.)