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<h1>Preferential Trade Agreement grants reciprocal tariff concessions between India and Mercosur across multiple industrial and agricultural product lines.</h1> The Preferential Trade Agreement between India and MERCOSUR, effective 1 June 2009, implements reciprocal tariff concessions negotiated under a 2003 Framework and the 2004 PTA with 2005 annexes. Concessions range from ten percent to full elimination across designated tariff lines, covering sectors such as chemicals, pharmaceuticals, machinery, electrical equipment, food and meat products, textiles, leather, plastics and rubber; the PTA uses listed margins of preference to operationalise staged market access commitments.