Latest news with #CECPA
News18
24-07-2025
- Business
- News18
India's Trade Diplomacy: Many Success Stories, UK FTA Latest Feather In Crown
Last Updated: India has active, duty‑concession FTAs or CEPAs with Sri Lanka, Nepal, Bhutan, Maldives, Australia, South Korea, UAE among other nations. As India prepares to ink its much-anticipated Free Trade Agreement (FTA) with the United Kingdom, New Delhi's growing network of trade pacts across Asia, Africa, and beyond are worth noting. Over the years, India has steadily built a portfolio of strategic FTAs, Comprehensive Economic Partnership Agreements (CEPAs), and Preferential Trade Agreements (PTAs), aimed at expanding exports, attracting investment, and enhancing global competitiveness. The FTA with the UK will be a landmark deal, but it is only the latest chapter in India's evolving trade diplomacy. India currently has several active FTAs or CEPAs, supported by a growing network of negotiations. Active FTAs / CEPAs India–Sri Lanka FTA (ISFTA): Operational since 2001, this FTA covers goods trade with tariff reductions ranging from zero up to ~25 per cent, although key sensitive categories like motor vehicles and ceramics are excluded. It substantially expanded bilateral trade, especially in pharmaceuticals, textiles, and petroleum products. SAFTA (South Asian Free Trade Area): A regional pact among Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan, Sri Lanka, and India, this FTA aimed to reduce intra-SAARC tariffs to zero by 2016. India–Bhutan Trade, Commerce & Transit Agreement: This is a longstanding arrangement providing near-complete duty‑free trade and transit access between India and Bhutan. India–Maldives Trade Agreement: This agreement offers selective duty-free import/export provisions, strengthening economic and strategic ties in the Indian Ocean region. India–Thailand FTA (Early Harvest Scheme): Launched in 2004, this covers around 82 product lines (e.g., auto components, electronics) as a precursor for deeper future trade engagement. India–Singapore CECA: Since 2005, this comprehensive pact covers goods, services, investment, and mutual cooperation, enhancing access to finance, telecom, and technology sectors. India–Malaysia CECA (IMCECA): Effective since 2011, this deeper CECA improved access in machinery, chemicals, electronics, palm oil and services, aiming to rebalance trade flows. India–Japan CEPA: Signed in 2011, it removes tariffs on over 90 per cent of traded goods including textiles, marine products, and gems, while liberalising services and IP regimes. India–South Korea CEPA (IKCEPA): This came into effect in 2010, with phased tariff elimination for autos, electronics, machinery, alongside services liberalisation and eased foreign investment caps (up to 65 per cent) India–Mauritius CECPA: India's first African CECPA, it has been effective since 2021, and offers preferential access on textiles, pharmaceuticals, agricultural products, and includes a services component. India–UAE CEPA: Operational from 1 May 2022, this agreement eliminates duties on nearly 90 per cent of Indian exports (gems, textiles, pharma, agri), has driven bilateral trade above USD 100 billion and supports up to 1 million jobs in labour‑intensive sectors. India–Australia ECTA: The Economic Cooperation and Trade Agreement signed in April 2022 offers zero-duty access for over 96 per cent of Indian goods (textiles, leather, gems, engineering), serving as an interim arrangement before a full CECA. India–ASEAN FTA: The India‑ASEAN Trade in Goods Agreement came into effect in 2010 (expanded in 2014 to services/investment), eliminating tariffs on more than 4,000 product lines and linking India to a market of 1.8 billion people. Countries India Has Signed FTAs With India has active, duty‑concession FTAs or CEPAs with Sri Lanka, Nepal, Bhutan, Maldives, Thailand, Singapore, Malaysia, Japan, South Korea, Mauritius, United Arab Emirates (UAE), Australia, ASEAN bloc (10 nations under goods/services/investment FTA), SAFTA regional bloc FTAs In The Works India is currently negotiating or reviewing trade pacts with several strategic partners: United Kingdom: The India-UK FTA has been finalised and is set to be signed today. It covers goods, services, mobility, procurement and aims to remove tariffs on 99 per cent of Indian exports and 90 per cent of UK goods over time. European Union: The long-delayed BTIA (Broad-Based Trade & Investment Agreement) talks have restarted. This agreement is set to be key for high-value goods and services access. United States: A mini-deal between India and US is under discussion, aimed at doubling trade by 2030, covering tariffs, digital trade, and professional mobility. It is said to be signed soon. Canada: The CEPA negotiations relaunched in March 2022 were paused, but are expected to resume this year. New Zealand, Oman, Peru, Israel, GCC states (including Oman, Qatar, Saudi Arabia, Kuwait, Bahrain, UAE): FTA or CEPA talks between India and these nations are underway or being considered. EFTA (Iceland, Norway, Switzerland, Liechtenstein): A TEPA was in signed March 2024, and expected to enter into force by late 2025. Sri Lanka CEPA, Thailand CECA upgrade, BIMSTEC CECA, India‑South African Customs Union PTA are the existing agreements under review or being upgraded. About the Author News Desk The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : Free Trade Agreement view comments Location : New Delhi, India, India First Published: July 24, 2025, 10:15 IST News business India's Trade Diplomacy: Many Success Stories, UK FTA Latest Feather In Crown Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. 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Zawya
12-03-2025
- Business
- Zawya
Mauritius can be used as a gateway by Indian investors for Africa, says country's Foreign Minister Dhananjay Ramful
Port Louis: Noting that Mauritius has a special bond with India and a very long historical relationship, country's Foreign Affairs Minister Dhananjay Ramful has said that preparations are "unique and special" for Prime Minister Narendra Modi's two-day visit to the country and Indian investors can use Mauritius "as a gateway to Africa". In an interview with ANI, Dhananjay Ramful, the Mauritius Minister of Foreign Affairs, Regional Integration, and International Trade, said India has provided extensive assistance in completing development projects in his country. He said the two countries have Comprehensive Economic Cooperation and Partnership Agreement (CECPA) and Mauritius looks forward to making this trade agreement more purposeful and useful. Mauritius and India signed a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) on February 22, 2021, during the visit of the External Affairs Minister S Jaishankar. It came into force on April 1, 2021. The India-Mauritius CECPA is the first trade agreement signed by India with an African country. Dhananjay Ramful said India and Mauritius are reorienting their relationship and talking about a strategic partnership. "The preparations are unique and special given that we have a very special bond with India. This is a very long historical relationship that we are talking about. It goes back to 1948, and since then, this relationship has strengthened over the years, and we have had various exchanges. In the meantime, we are talking about cultural exchanges, (improvement in) economic and trade relationship. Now we are reorienting that relationship. We are talking about a strategic partnership nowadays between Mauritius and India," he said. "India has been a partner in development, all the way. India has given us a lot of assistance in terms of many infrastructural projects. This short interview will not be enough for the list. We have the Metro project, you have the new Supreme Court building, you have the new ENT Hospital... India has constructed a runway - so many projects have been implemented in Mauritius. India has stood shoulder to shoulder with Mauritius in completing those projects," he added. Dhananjay Ramful said Africa is rising and Mauritius can be used as a platform, a gateway to invest in the countries in the continent. "Now, in terms of economic trade, we also have CECPA, the Comprehensive Economic Partnership Agreement with India. We are looking forward to make this trade agreement more purposeful and useful. The message I am giving to Indian investors is that we have to look at it as Mauritius being a gateway to Africa," he said. "Africa has 1.3 billion consumers. Africa is rising and Mauritius can be used as a platform, a gateway to invest in Africa - bearing in mind that Mauritius is a member of various organisations. All these institutions are there for Indian investors to make purposeful meaning of the free trade agreement we have with India, and to invest in various sectors - pharmaceutical sector, education. There are various sectors where Indian investors can come to invest," he added. PM Modi will pay a State Visit to Mauritius on March 11-12 to attend the National Day celebrations of Mauritius on 12th March as the Chief Guest. A contingent of Indian Defence Forces will participate in the celebrations along with a ship from the Indian Navy. Prime Minister last visited Mauritius in 2015. During the visit, Prime Minister will call on the President of Mauritius, meet the Prime Minister, and hold meetings with senior dignitaries and leaders of political parties in Mauritius. Prime Minister will also interact with the members of the Indian-origin community, and inaugurate the Civil Service College and the Area Health Centre, both built with India's grant assistance. A number of Memorandums of Understanding (MoUs) will be exchanged during the visit. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
11-03-2025
- Business
- Times of Oman
Mauritius can be used as a gateway by Indian investors for Africa, says country's Foreign Minister Dhananjay Ramful
Port Louis: Noting that Mauritius has a special bond with India and a very long historical relationship, country's Foreign Affairs Minister Dhananjay Ramful has said that preparations are "unique and special" for Prime Minister Narendra Modi's two-day visit to the country and Indian investors can use Mauritius "as a gateway to Africa". In an interview with ANI, Dhananjay Ramful, the Mauritius Minister of Foreign Affairs, Regional Integration, and International Trade, said India has provided extensive assistance in completing development projects in his country. He said the two countries have Comprehensive Economic Cooperation and Partnership Agreement (CECPA) and Mauritius looks forward to making this trade agreement more purposeful and useful. Mauritius and India signed a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) on February 22, 2021, during the visit of the External Affairs Minister S Jaishankar. It came into force on April 1, 2021. The India-Mauritius CECPA is the first trade agreement signed by India with an African country. Dhananjay Ramful said India and Mauritius are reorienting their relationship and talking about a strategic partnership. "The preparations are unique and special given that we have a very special bond with India. This is a very long historical relationship that we are talking about. It goes back to 1948, and since then, this relationship has strengthened over the years, and we have had various exchanges. In the meantime, we are talking about cultural exchanges, (improvement in) economic and trade relationship. Now we are reorienting that relationship. We are talking about a strategic partnership nowadays between Mauritius and India," he said. "India has been a partner in development, all the way. India has given us a lot of assistance in terms of many infrastructural projects. This short interview will not be enough for the list. We have the Metro project, you have the new Supreme Court building, you have the new ENT Hospital... India has constructed a runway - so many projects have been implemented in Mauritius. India has stood shoulder to shoulder with Mauritius in completing those projects," he added. Dhananjay Ramful said Africa is rising and Mauritius can be used as a platform, a gateway to invest in the countries in the continent. "Now, in terms of economic trade, we also have CECPA, the Comprehensive Economic Partnership Agreement with India. We are looking forward to make this trade agreement more purposeful and useful. The message I am giving to Indian investors is that we have to look at it as Mauritius being a gateway to Africa," he said. "Africa has 1.3 billion consumers. Africa is rising and Mauritius can be used as a platform, a gateway to invest in Africa - bearing in mind that Mauritius is a member of various organisations. All these institutions are there for Indian investors to make purposeful meaning of the free trade agreement we have with India, and to invest in various sectors - pharmaceutical sector, education. There are various sectors where Indian investors can come to invest," he added. PM Modi will pay a State Visit to Mauritius on March 11-12 to attend the National Day celebrations of Mauritius on 12th March as the Chief Guest. A contingent of Indian Defence Forces will participate in the celebrations along with a ship from the Indian Navy. Prime Minister last visited Mauritius in 2015. During the visit, Prime Minister will call on the President of Mauritius, meet the Prime Minister, and hold meetings with senior dignitaries and leaders of political parties in Mauritius. Prime Minister will also interact with the members of the Indian-origin community, and inaugurate the Civil Service College and the Area Health Centre, both built with India's grant assistance. A number of Memorandums of Understanding (MoUs) will be exchanged during the visit.
