Following is the list of countries with which India entered into Free Trade Agreements since January 2004 to December 2009.
S.No | Name of the Agreement | Date of Signingof the Agreement | Date of Implementation |
1 | Agreement on South Asia Free Trade Area (SAFTA) | 04.01.2004 | 01.01.2006 |
2 | Early Harvest Scheme (EHS) under the Framework Agreement between India and Thailand | 01.09.2004 | 01.09.2004 |
3 | India - Singapore Comprehensive Economic Cooperation Agreement | 29.06.2005 | 01.08.2005 |
4 | Trade in Goods under the India - ASEAN Comprehensive Economic Cooperation Agreement | 13.08.2009 | 01.01.2010 |
5 | India - Korea Comprehensive Economic Partnership Agreement | 07.08. 2009 | 01.01.2010 |
6 | India - MERCOSUR Preferential Trade Agreement | 25.01.2004 | 01.06.2009 |
7 | India - Chile Preferential Trade Agreement | 08.03.2006 | 11.09.2007 |
No commodities can enter the Indian market if they are prohibited under the Foreign Trade Policy. Whether a product is prohibited from imports or requires prior permission before imports or is freely importable is decided by the Foreign Trade Policy. Free Trade Agreements can only offer duty reduction on specific products and cannot change the import policy for any product/commodity.
This information was given by Shri Jyotiraditya M Scindia, Minister of State for Commerce and Industry, in a written reply in the Rajya Sabha today.
Free Trade Agreements provide tariff concessions but do not alter import prohibitions or licensing under the Foreign Trade Policy. Free Trade Agreements operate solely to provide tariff concessions and preferential access; they do not modify the statutory import policy. Determinations about whether goods are prohibited, require prior permission, or are freely importable are made under the Foreign Trade Policy, and FTAs cannot override import prohibitions or licensing requirements.
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