Free trade agreement of india

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    Trade Agreements Last published date: 2024-01-12

    There is no trade agreement between the United States and India. In April 2018, the United States launched an eligibility review of India’s compliance with the General System of Preferences (GSP) market access criteria. In March 2019, the United States determined 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 continue to hold discussions on a range of trade issues.

    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 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.