Question : FTAS PTAS WITH COUNTRIES

(a) the countries with which India has entered into Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) during each of the last three years and the current year;

(b) the quantum and value of trade (Exports/Imports) with such countries during each of the last three years and the current year, country and commodity-wise;

(c) whether the Government proposes to enter into FTAs and PTAs with some more countries including Israel, review the existing FTAs/PTAs to boost trade and investments in the country;

(d) if so, the details thereof indicating the countries with which such agreements are under negotiations, progress made in this regard so far, and the time by which the agreements are likely to be signed;

(e) the safeguard measures taken by the Government while negotiating such agreements; and

(f) the impact of such agreements in boosting country`s trade and investments?

THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (INDEPENDENT CHARGE)
(SMT. NIRMALA SITHARAMAN)

(a) India has not entered into any new Free Trade Agreement (FTA) or Preferential Trade Agreement (PTA) during the last three years. However, India expanded the scope of the Free Trade Agreement (FTA) with ASEAN to Services and Investment on 09.09.2014 with its date of implementation as 01.07.2015.

(b) Does not arise.

(c) The Government is negotiating new FTAs and expansion of existing FTAs with some countries, including Israel.

(d) The FTA negotiations are a continuous process and it is difficult to predict a time-line for conclusion. The list of 17 ongoing negotiations along with their status is at Annexure-I.

(e)&(f): Before entering into negotiations with its trading partners, studies are undertaken internally, as well as through the Joint Study Group (JSG) to study the feasibility of the proposed FTAs, including their impact on the domestic industry and agriculture sector. Consultations are also held with the domestic stakeholders including the Apex Chambers of Commerce and Industry, Industry Associations as well as the Administrative Ministries and Departments. In order to protect the interest of the domestic industry and agriculture sector, these agreements provide for maintaining sensitive/negative lists of items on which limited or no tariff concessions are granted under the FTA. In addition, in case of a surge in imports and injury to the domestic industry, a country is allowed to take recourse to the measures such as anti-dumping and safeguards.