<h1>India-MERCOSUR Trade Agreement Boosts Economic Ties with Tariff Concessions on Chemicals, Pharmaceuticals, Machinery, and Textiles.</h1> The India-MERCOSUR Preferential Trade Agreement (PTA) became effective on June 1, 2009, enhancing trade relations between India and the South American trading bloc comprising Argentina, Brazil, Paraguay, and Uruguay. During 2007-08, India had a total trade of $4,773.39 million with MERCOSUR, with exports at $2,904.8 million and imports at $1,868.39 million. The PTA provides tariff concessions on various product groups, including chemicals, pharmaceuticals, machinery, and textiles. India and MERCOSUR agreed on tariff preferences ranging from 10% to 100% on numerous tariff lines, aiming to foster a free trade area between the two regions.