India’s imports from countries under free trade agreements (FTAs) like UAE, South Korea, and Australia surged by 38% to $187.92 billion during the 2019-24 fiscal years, reports GTRI. Conversely, exports to FTA partners rose by 14.48% to $122.72 billion in 2023-24. Notably, exports to the UAE increased by 18.25%, while imports surged by 61.21%. Similar trends were observed with Australia and ASEAN bloc. Despite modest growth in exports to Japan, India ranks 17th in global exports and 8th in imports. Ajay Srivastava, GTRI co-founder and former Indian Trade Service officer, provided insights into the data.
India’s Free Trade Agreement Imports Surge 38% to $187.92 Billion
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