India has signed 13 FTAs, six preferential pacts so far, says minister

India has signed 13 free trade agreements (FTAs) and six preferential pacts so far with its trading partners for ensuring greater market access for domestic goods and promoting exports, Union minister Anupriya Patel said on Wednesday. The country has recently signed three such agreements with Mauritius, the UAE and Australia.

Further, India is also actively engaged in FTA negotiations with some of its trading partners including the UK, European Union and Canada.

Trade negotiations with partner countries is a dynamic and continuous process for obtaining better market access for India’s exports and other business opportunities, Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Lok Sabha.

“India has so far signed 13 Free Trade Agreements (FTAs) and six Preferential Trade Agreements (PTAs) with its trading partners for preferential access for its products,” she said.

In a separate reply, the minister said that six rounds of negotiations have been held so far between India and the UK for a proposed trade pact.

Replying to a separate question, Patel said that the government’s decision of November 19, to withdraw export duty on iron ore with ‘less than 58 per cent Fe content’, iron ore pellets, pig iron and certain steel products will boost exports.

India’s iron ore exports in October were 1,85,518 tonnes valuing USD 7.83 million.

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