Page 78 - CII-ARTHA

ARTHA

Bridging the Gap Between

Trade Agreements and

Trade Outcomes in India

I ndia’s trade agreements can broadly agreements, together with the trade deal
be classified into three epochs - early
with the USA, cover ~70 per cent of
regional orientation starting with the
Bangkok Agreement (now APTA) in 1975 , global GDP and ~65 per cent of global
trade .
1
3
agreements with the Asian and South
American economies through bilateral
and multilateral deals over 2004 - 2011, India’s FTA Utilisation
and the latest round of agreements and Trade Outcomes
starting 2021. Since 2021, India has
finalised 8 trade agreements covering 37 However, India’s performance on Free
countries and announced a trade deal Trade Agreements (FTAs) leaves a lot to
with the USA. India is also reported to be be desired. Estimates indicate that India’s
Sanjeev Krishan in active discussions with Canada, Chile, FTA utilisation is at 25 per cent ,
Peru, and the Gulf Cooperation Council significantly lower than developed
Chairperson (GCC), among others . The concluded economies that are at 70-80 per cent
2
PwC in India

1 https://indiantradeportal.in/vs.jsp?lang=0&id=0,1,30622,30624
2 https://economictimes.indiatimes.com/news/economy/foreign-trade/india-has-finalised-eight-ftas-covering-37
-developed-countries-commerce-minister-goyal/articleshow/127833754.cms?from=mdr
3 https://www.cnbctv18.com/economy/indias-ftas-now-unlock-70-of-global-gdp-says-piyush-goyal-ws-l-198548
31.htm
4 https://economictimes.indiatimes.com/news/economy/foreign-trade/major-ftas-done-focus-now-on-their-effe
ctive-utilisation/articleshow/128551749.cms?from=mdr

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