BN BAHADHUR INSTITUTE OF MANAGEMENT SCIENCE

MANAGEMENT OF BUSINESS ADMINISTRATION

Subject : International Business 2
WTO And India
Assignment 2

Submitted by:
Arun MP
2nd Year MBA 'A' section

Submitted to:
Prof. Dr Nischith
BIMS, UOM
Mysuru.
C2 Assignment
International Business 2
India and WTO

Multilateral agreement

Multilateral Accord or Agreement

A multilateral agreement is a trade pact made up of three or more nations that aims to lower trade
restrictions like tariffs, subsidies, and embargoes that restrict a country's capacity to import or export
commodities. They are regarded as the most effective means of promoting a genuinely global economy that
equally opens markets to both small and large countries.

Trade pacts are often either bilateral, comprising just two countries, or multinational. Multilateral
agreements are far more difficult to negotiate than bilateral agreements due to their very structure, which
calls for concessions from multiple nations that have historically employed trade barriers to defend specific
sectors or domestic commodities.

Multilateral Agreements Examples

The North American Free Trade Agreement (NAFTA) and the Central American-Dominican Republic Free
Trade Agreement are two of the most well-known regional accords. Multilateral agreements are often
negotiated amongst nations that share a geographic region (CAFTA). Multilateral agreements, however,
may also be of an international nature. The General Agreement on Trade and Tariffs (GATT), which was
negotiated between 153 nations after World War II, is possibly the most successful international trade deal.

Their efficacy is up for discussion. For instance, proponents of multilateral accords emphasise the economic
advantages they bring to smaller nations with developing economies, while opponents contend that they give
multinational corporations greater power over the national sovereignty of various states.

● Multilateral Trade Agreement Benefits

● The strongest advocates of adopting multilateral accords as the best means of promoting free and
unrestricted international commerce are probably liberal economists. They list the following as
advantages:
● Obtaining "preferred nation status" is not permitted; no nation that is a signatory to a multilateral
agreement may be given more advantageous trading privileges than any other party. Every nation is
treated equally as a partner.
● Best use of a country's resources - Nations may concentrate on manufacturing just those items that
are valued by their agreement partners, improving the efficiency of resource allocation.
 ● Cheaper exports are the result of reduced tariffs, which remove artificial trade obstacles for exporting
nations.
● Regulation uniformity - Businesses can do business more freely between signatory nations thanks to
established commercial norms. Moreover, stronger protection for international intellectual property
rights is possible.
● Many agreements versus one Despite the fact that multilateral agreements by their very nature are
frequently difficult, they actually save nations the time and effort required to negotiate individual
agreements with each possible trade partner.
● Developing markets prosper - Bilateral accords frequently benefit the wealthy. All players benefit
from the equal playing field created by multilateral accords, especially the underdogs who have long
been treated unfairly.

Multilateral Agreements' Drawbacks

o There are many who are opposed to multilateral accords. They believe these agreements don't
offer any long-term advantages for the following reasons:

● Ceding of sovereign rights - When a country joins a multilateral agreement, it often cedes some degree
of sovereignty over how it conducts business with other nations, which is frequently in direct conflict
with the democratic values upon which it was formed.
● Some parties benefit, but some parties also suffer - The cheap prices of goods imported from rival
countries may have a negative impact on some industries inside partner countries.
● Difficult and time-consuming talks - Multilateral agreements can take a long time to accomplish because
of the complexity of an agreement that must be negotiated by numerous countries with sometimes
conflicting interests.
● There is no assurance that an agreement will be achieved even after years of negotiations.
● Misunderstandings and misconceptions - While negotiating an agreement, discussions are frequently
held in private, which fosters mistrust and controversies among businesses, special interest groups,
labour unions, and the media.
● Multinational firms' growth Due to the elimination of conventional trade barriers, smaller firms
frequently struggle to compete with big enterprises. Because salaries must be reduced in order for these
businesses to compete, this may result in unemployment in some sectors of the economy and worse
living standards.

India and its Agreements

Asia-Pacific Trade Agreement
The Asia-Pacific Trade Agreement (APTA), also known as the 2 November 2005
Agreement and formerly known as the Bangkok Agreement, was signed in 1975.
The Asia-Pacific region's preferential trade agreement with this country dates back
the longest. The market that the APTA serves has a population of 2921.2 million
and a gross domestic product (GDP) of US$14615.86 billion in the fiscal year (FY)
2015–2016. The main goal of APTA is to speed up economic growth among the
participating states by choosing trade and investment liberalisation policies that
will promote intra-regional trade and economic strengthening through the inclusion
of goods and services, synchronised investment policies, and the free transfer of
technology, placing all of the participating states in competitive positions. Its
objective is to encourage collaboration and economic growth.

Its objective is to encourage economic growth and collaboration by implementing

trade liberalisation initiatives. The United Nations Economic and Social
Commission for Asia and the Pacific, which acts as the APTA Secretariat, is a
member of APTA. The Fourth Round of Tariff Concessions, in which APTA
members are presently taking part, is scheduled to end in October 2009.
Member countries
1. Bangladesh (original member, 1975) (original member, 1975)
2. China (acceded in 2000) (acceded in 2000)
3. India (original member, 1975) (original member, 1975)
4. Korea the Democratic (original member, 1975)
5. Democratic People's Republic of Lao (original member, 1975)
6. South Asia (original member, 1975)
7. Mongolia (acceded in 2013, full membership in 2020) (acceded in 2013, full
membership in 2020).

ASEAN–India Free Trade Area

The Organization of Southeast Asian Countries (ASEANten)'s member nations and the Republic of India
have created the ASEAN-India Free Trade Area (AIFTA). In Bali, Indonesia, on October 8, 2003, the
original framework agreement was signed. On August 13, 2009, the final agreement was signed. On January
1, 2010, the free trade area went into effect. On January 26, 2018, India held the most recent ASEAN-India
Commemorative Summit in New Delhi. Bilateral commerce between India and ASEAN increased by over
14% to reach $81.3 billion in the fiscal year 2017–18. India imported goods at US$47.13 billion from
ASEAN while exporting goods worth US$34.2 billion to ASEAN.

Participating Countries
Global System of Trade Preferences among Developing
Countries

The Worldwide Arrangement of Exchange Inclinations among Emerging Nations (G.S.T.P)[3] is a particular
economic accord, right now including 42 individuals ("members"), endorsed on 13 April 1988 fully intent
on expanding exchange between non-industrial nations. It was haggled inside the structure of the Unified
Countries Gathering on Exchange and Advancement (UNCTAD). The Understanding went into force on 19
April 1989 and was advised to the then Broad Settlement on Levies and Exchange (GATT), ancestor of the
World Exchange Association (WTO), on 25 September 1989. The 42 individuals from GSTP incorporate
also 7 LDCs (Bangladesh, Benin, Guinea, Mozambique, Myanmar, Sudan, and Tanzania).

The Understanding was started by UNCTAD to advance exchange among emerging nations, in this way
encouraging monetary development and South collaboration and has its underlying foundations in the
Gathering of 77, an alliance of 134 non-industrial nations made in 1964 to build their arranging influence
and advance their financial advantages.
 Mercosur

The Southern Normal Market, usually known by Spanish shortened form Mercosur, and Portuguese
Mercosul, is a South American exchange coalition laid out by the Deal of Asunción in 1991 and Convention
of Ouro Preto in 1994. Its full individuals are Argentina, Brazil, Paraguay, and Uruguay. Venezuela is a full
part however has been suspended since 1 December 2016. Partner nations are Bolivia, Chile, Colombia,
Ecuador, Guyana, Peru, and Suriname.

Mercosur's beginnings are connected to the conversations for the constitution of a territorial monetary
market for Latin America, which return to the deal that laid out the Latin American Deregulation
Relationship in 1960, which was prevailed by the Latin American Mix Relationship during the 1980s. At
that point, Argentina and Brazil gained ground regarding this situation, marking the Iguaçu Statement
(1985), which laid out a reciprocal commission, which was trailed by a progression of economic deals the
next year. The Reconciliation, Collaboration and Improvement Deal, endorsed between the two nations in
1988, put forth the objective of laying out a typical market, to which other Latin American nations could
join. Paraguay and Uruguay joined the cycle and the four nations became signatories to the Settlement of
Asunción (1991), which laid out the Southern Normal Market, an exchange partnership pointed toward
helping the territorial economy, moving merchandise, individuals among themselves, labour force and
capital. At first a streamlined commerce zone was laid out, in which the signatory nations wouldn't burden
or limit each other's imports. Starting around 1 January 1995, this region turned into a traditions association,
wherein all signatories could charge similar shares on imports from different nations (normal outer tax). The
next year, Bolivia and Chile gained enrollment status. Other Latin American countries have communicated
interest in joining the gathering.
South Asian Free Trade Area

The South Asian Streamlined commerce Region (SAFTA) is a 2004 understanding that made a deregulation
area of 1.6 billion individuals in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and
Sri Lanka with the vision of expanding monetary collaboration and integration.

One of the significant objectives was to decrease customs obligations of all exchanged products to zero by
2016. SAFTA required the emerging nations in South Asia (India, Pakistan and Sri Lanka) to bring their
obligations down to 20 percent in the principal period of the two-year time frame finishing in 2007. In the
last five-year gradually ease finishing in 2012, the 20-percent obligation was decreased to focus in a
progression of yearly cuts. The most un-created nations in the area had three extra years to lessen taxes to
nothing. India and Pakistan confirmed the arrangement in 2009, though Afghanistan, as the eighth part
condition of the SAARC, sanctioned the SAFTA convention on 4 May 2011.

Bilateral Agreement
● What exactly is a bilateral contract?
A bilateral agreement, also known as a clearing trade or side deal, is a pact made between two parties or
nations with the goal of minimising trade deficits. The amount varies according on the nature, extent, and
participating nations of the agreement.

Respective Arrangements (Bilateral Agreement) versus Economic Agreements (Trade Deals)

Respective arrangements are not equivalent to economic accords. The last option includes diminishing or
wiping out import standards, send out limitations, duties, and other exchange related boundaries among
states. Likewise, the standards administering economic alliance are laid out by the World Exchange
Association (WTO).

Then again, respective arrangements are not limited by the standards set by the WTO and don't exclusively
zero in on exchange related issues. All things being equal, the arrangement for the most part targets
individual strategy regions, planning to increment collaboration and work with exchange between nations
certain regions.

● Scope of Reciprocal or Bilateral Agreements

In a reciprocal economic deal, the nations included give each other admittance to their business sectors,
which prompts exchange and monetary development. The understanding likewise establishes a climate that
advances reasonableness since a bunch of rules in business tasks is noticed. Here are the five regions
covered by reciprocal arrangements:

With the end of levies and exchange related charges, organizations situated in nations with a reciprocal
understanding partake in a cost advantage, particularly for countries that twist in various ventures.

Nations engaged with the understanding won't offer items for a minimal price just to acquire a greater offer
on the lookout. They won't offer merchandise at costs that are even lower than creation costs, then increment
costs when they've conquered the opposition.

The nations won't utilize out of line endowments. For example, when nations sponsor energy or farming,
makers will see lower costs, giving them an unreasonable benefit when they trade the products.
Due to normalized business tasks, for example, work principles and ecological security, exporters work in a
level battleground.

The arrangement includes not taking the inventive merchandise of different exporters. Nations comply with
existing copyright and protected innovation regulations.

● Benefits of Bilateral Agreements

✔ Since it includes just two nations, going into a reciprocal understanding is a lot more straightforward
when contrasted with multilateral economic deals.
✔ It gives organizations admittance to new business sectors.
✔ At the point when the gatherings included see interest, they will open more open positions.
✔ Respective arrangements likewise empower shoppers to purchase products at lower costs. For
example, a few sorts of items might be more costly without an understanding

● Disadvantages

✔ Very much like in some other exchange related understanding, less fruitful organizations will
probably find it hard to move their business along as they can not contend with additional effective
enterprises in another country.
✔ The disposal of exchange charges implies organizations lose their cost advantage.
✔ A respective understanding can bring about contending arrangements between different nations.

Bilateral Agreements with India

Preferential trade arrangements
Preferential trade arrangements (PTAs) in the WTO are one-sided exchange inclinations. They
incorporate Summed up Arrangement of Inclinations plans (under which created nations award special
duties to imports from emerging nations), as well as other non-complementary particular plans conceded a
waiver by the Overall Committee.

Particular Economic deals (PTAs)

have been multiplying, particularly since the
foundation of the World Exchange Association
(WTO) in 1994. As of first December 2015,
the WTO had gotten notices of no
under 619 PTAs (disaggregated by products,
administrations, or increases), of which 413 were
currently in force. Obviously, then, at that point, PTAs are
well known. However, would they say they are financially helpful?
All the more explicitly, have the PTAs endorsed by
India been really great for the country? This part
looks at the proof and considers the
suggestions for exchange technique proceeding.
8.2 Figure 1 follows the patterns in PTAs
all over the planet. Somewhere in the range of 2008 and 2012,
PTAs developed at a typical year-on-year rate
of 24%. All WTO individuals with the exception of
Mongolia have closed somewhere around one PTA,
while some, like the European Association,
Chile, and Mexico, have closed more than
20. During the 1990s, around 75% of
PTAs were local; by 2003, this offer had
dropped to around 50%
8.3 Inside the general classification of PTAs,
one can recognize five structures, recorded beneath,
with each ensuing plan being a
more profound type of incorporation, requiring more
coordination and a more prominent loss of independence
● A.Partial Scope Agreement (public service announcement): A public service announcement
is just fractional in scope, meaning it permits
for exchange between nations on a little
number of products.
● B. International alliance Free Trade Agreement (FTA): A streamlined commerce
understanding is a particular game plan
in which individuals decrease levies on exchange
While staying focused on multilateralism, India like numerous different nations,
has arranged a progression of international alliances (FTAs), outstandingly with exchanging
accomplices in Asia. Since the mid-2000s, India's FTAs have multiplied to around 42
today. During a period of seismic changes in the global scene in the structure
of uber provincial arrangements, including the biggest brokers — USA, Japan, and
the European Association — we survey the experience of a couple of India's FTAs. Utilizing
refreshed information and procedures, we observe that the financial effect may
be normal. FTAs have prompted expanded imports and products, albeit the previous
has been more prominent. We observe that the typical impact of a FTA is to increment in general
exchange by around 50% over about four years. We likewise track down that the ASEAN
FTA has had the best effect, perhaps in light of the fact that tax decrease by India has
been more noteworthy under it. The outcomes likewise propose a greater effect on metals on the
bringing in side and materials on the trading side. More work is expected to advance
this investigation and to extend it to administrations so a conclusive evaluation can be
had of the general effect of India's FTAs.
Particular Economic alliance 119
among themselves, while keeping up with
their own duty rates for exchange with
nonmembers.
● C. Customs Union (CU): A traditions association
(CU) is an international alliance where
individuals apply a typical outer levy
(CET) timetable to imports from nonmembers.
● D. Common Market (CM): A typical market
is a traditions association where development of
elements of creation is generally free
among part nations.
● E. Economic Union (EU): A monetary
association is a typical market where part
nations coordinate large scale financial and
swapping scale approaches.

India and Free-Trade Agreements

In addition to its long-standing commitment to multilateralism under WTO agreements and in line with
global trends, India has made use of FTAs as a key component of its trade and foreign policy, especially from 2003-04
onwards. Hitherto, India has mainly focused on partnering with other Asian countries, and in goods more so than in
services. Within Asia, India has signed bilateral FTAs with Sri Lanka (1998), Afghanistan (2003), Thailand (2004),
Singapore (2005), Bhutan (2006), Nepal (2009), Korea (2009), Malaysia (2011) and Japan (2011). There have also
been two regional trade agreements, the South Asian Free Trade Agreement (SAFTA, 2004) and the India-Association
of Southeast Asian Nations Agreement (ASEAN, 2010). Outside Asia, FTAs have been agreed with Chile (2006) and
MERCOSUR (2004). The depth of integration offered by these FTAs both in goods and services is highlighted in Table
1 and Table 2. An earlier study on FTAs commissioned by the Ministry of Finance and authored by Rupa Chanda of
the Indian Institute of Management, Bangalore notes that there are differences in the coverage of products and
degree of integration across recent FTAs. For example, the India-Korea CEPA contains chapters on Origin Procedures,
Telecommunication and Audio-Visual Co-production, but these are not included in the India-Japan CEPA. On 120
Economic Survey 2015-16 the other hand, the India-Japan agreement has chapters on Technical Regulations,
Standards and Conformity Assessment Procedures and Sanitary and Phytosanitary Measures, Government
Procurement and Improvement of Business Environment but these chapters are not included in the India-Korea
CEPA

Preferential trade agreement advantages and disadvantages

● Benefits:
1. Expanded exchange: PTAs can increment exchange streams between taking an interest nations by
diminishing or wiping out duties, amounts, and other exchange boundaries.
2. Financial development: Expanded exchange can prompt expanded monetary development and
occupation creation, as organizations approach new business sectors and buyers.
3. Political collaboration: PTAs can cultivate nearer political and financial collaboration between taking
an interest nations, which can prompt better conciliatory relations.
4. Lower customer costs: By diminishing exchange hindrances, PTAs can prompt lower buyer costs for
labor and products.

● Disadvantages or Burden:

1. Exchange redirection: PTAs can prompt exchange redirection, where exchange moves from non-
taking an interest nations, regardless of whether they have lower expenses of creation.
 2. Loss of income: PTAs can prompt a deficiency of government income from tax decreases, which can
be challenging for non-industrial nations that depend on this income.
3. Intricacy: PTAs can be mind boggling and challenging to arrange, execute, and implement.
4. Inconsistent dispersion of advantages: PTAs can prompt inconsistent conveyance of advantages,
where bigger and more created nations might help more than more modest and less created
nations.

{Special Economic alliance} Preferential Trade Agreements (PTAs)

have a few elements, some of which include:

● Levy decreases: PTAs regularly include the decrease or end of duties on specific labor and products
between taking part nations. This can make imports less expensive and increment exchange
streams between nations.

● Rules of beginning: To fit the bill for levy decreases, products should frequently meet specific
measures, for example, being created inside the PTA or having a specific level of nearby satisfied.
These guidelines are expected to keep non-partaking nations from exploiting the arrangement by
sending out products through the PTA.

● Exchange cures: PTAs frequently incorporate arrangements for managing unjustifiable exchange
practices like unloading or endowments. This can incorporate measures like enemy of unloading
obligations or balancing obligations.

● Debate settlement: PTAs as a rule have a question settlement instrument to determine debates
between taking an interest nations. This can incorporate intercession, discretion, or case.

● Licensed innovation insurance: PTAs frequently incorporate arrangements for safeguarding

protected innovation privileges like licenses, brand names, and copyrights.

● Administrations and venture: PTAs may likewise incorporate arrangements for changing exchange
administrations and speculation between partaking nations.

● Non-duty hindrances: notwithstanding tax decreases, PTAs may likewise address non-tax
boundaries to exchange like specialized guidelines or clean and phytosanitary measures.

Regional Free Trade Agreement

A Regional Free Trade Agreement (RFTA) is an economic deal between at least two nations inside a
geographic district that kills or lessens duties, quantities, and other exchange boundaries on labor and
products exchanged inside the locale.

In contrast to a Particular Economic deal (PTA), which awards special admittance to specific labor and
products between partaking nations, a RFTA by and large plans to make a totally streamlined commerce
region inside the locale. This implies that all labor and products exchanged inside the locale are likely to
nothing or extremely low levies and other exchange boundaries.

Instances of territorial international alliances incorporate the European Association (EU), the North
American International alliance (NAFTA), the Relationship of Southeast Asian Countries (ASEAN)
Streamlined commerce Region, and the South Asian Deregulation Region (SAFTA).

● RFAs can have several benefits,

including increased trade and economic growth within the region,

improved political and economic cooperation between participating countries, and increased foreign
direct investment.

● However, they can also have disadvantages, such as trade diversion, loss of government revenue,
and unequal distribution of benefits among participating countries.

Regional Free Trade Agreements (RFTAs) enjoy a few benefits, including:

● Expanded exchange: RFTAs can prompt expanded exchange streams between partaking nations by
disposing of or diminishing levies, portions, and other exchange boundaries on labor and products
exchanged inside the area. This can increment monetary development and occupation creation, as
organizations approach new business sectors and buyers.

● Monetary reconciliation: RFTAs can encourage nearer financial joining and collaboration between
taking part nations, which can prompt superior provincial monetary turn of events and seriousness.

● Political collaboration: RFTAs can likewise cultivate nearer political and conciliatory collaboration
between partaking nations, which can prompt better discretionary relations and participation in
different regions like security and ecological issues.

● Further developed speculation climate: RFTAs can establish a better venture climate inside the
district, as organizations approach bigger business sectors and a more steady administrative
climate.

● Lower shopper costs: By lessening or taking out exchange boundaries, RFTAs can prompt lower
purchaser costs for labor and products inside the locale, which can help buyers and increment their
buying power.

● Better admittance to innovation and mastery: RFTAs can likewise work with the exchange of
innovation and ability between taking part nations, which can further develop efficiency,
effectiveness, and advancement.

● By and large, RFTAs can make a more coordinated and prosperous local economy, helping the two
organizations and shoppers inside the district.
Regional Free Trade Agreements (RFTAs) can likewise have a few disservices,
including:

● Exchange redirection: RFTAs can prompt exchange redirection, where exchange moves from non-
partaking nations, regardless of whether they have lower expenses of creation. This can adversely
affect the economies of non-taking part nations, especially in the event that they are more modest
or less created.

● Loss of government income: RFTAs can prompt a deficiency of government income from levy
decreases, which can be hard for non-industrial nations that depend on this income.

● Inconsistent dissemination of advantages: RFTAs can prompt inconsistent appropriation of

advantages, where bigger and more created nations might help more than more modest and less
created nations. This can intensify existing monetary imbalances inside the locale.

● Employment misfortunes: RFTAs can prompt employment misfortunes in ventures that are not
serious inside the locale, especially in areas that face solid contest from other taking part nations.
This can adversely influence laborers and networks inside the impacted businesses.

● Administrative harmonization: RFTAs might require administrative harmonization among taking

part nations, which can be challenging to accomplish and may bring about settle for less or loss of
sway.

● Financial backer state debate settlement: RFTAs might incorporate financial backer state question
settlement arrangements that permit unfamiliar financial backers to sue legislatures over strategies
that may adversely influence their ventures, which can restrict an administration's capacity to
control in the public interest.

By and large, RFTAs can adversely affect taking an interest nations and non-partaking nations. It is vital to
gauge the likely benefits and burdens prior to going into such arrangements cautiously.

Regional Free Trade Agreements (RFTAs) have a few elements, some of which
include:

● Duty end: RFTAs regularly include the total end or decrease of levies on labor and products
exchanged inside the locale. This can make imports less expensive and increment exchange streams
between taking part nations.

● Rules of beginning: To fit the bill for tax end, products should frequently meet specific standards,
for example, being created inside the district or having a specific level of nearby happy. These
standards are expected to keep non-partaking nations from exploiting the understanding by
sending out merchandise through the locale.

● Non-levy obstructions: notwithstanding duty disposal, RFTAs may likewise address non-tax
boundaries to exchange like specialized guidelines, clean and phytosanitary measures, and licensed
innovation insurance.

● Exchange cures: RFTAs frequently incorporate arrangements for managing unreasonable exchange
practices like unloading or sponsorships. This can incorporate measures like enemy of unloading
obligations or balancing obligations.
 ● Debate settlement: RFTAs typically have a question settlement system to determine debates
between taking an interest nations. This can incorporate intervention, mediation, or suit.

● Administrations and venture: RFTAs may likewise incorporate arrangements for changing exchange
administrations and speculation between taking part nations.

● Monetary joining: RFTAs expect to make a more coordinated and durable financial locale, which
can remember participation for regions like framework improvement, energy, and media
communications.

● Natural and social norms: RFTAs might incorporate arrangements for advancing ecological and
social guidelines, for example, work privileges and feasible turn of events.

● Generally, RFTAs plan to make a more incorporated and prosperous monetary locale by disposing
of exchange obstructions and advancing collaboration between partaking nations. In any case, they
can likewise have expected downsides, like exchange redirection and loss of government income,
and it is vital to assess the possible advantages and detriments prior to going into such
arrangements cautiously.

List of Free Trade Agreements of India

● India has signed several free trade agreements (FTAs) with various countries and regional blocs.
Some of the major FTAs of India include:

● ASEAN-India FTA: India signed a free trade agreement with the Association of Southeast Asian
Nations (ASEAN) in 2009, which eliminated tariffs on goods traded between the two regions.

● India-South Korea Comprehensive Economic Partnership Agreement: India signed a free trade
agreement with South Korea in 2010, which eliminated tariffs on goods traded between the two
countries and improved market access for services and investment.

● India-Japan Comprehensive Economic Partnership Agreement: India signed a free trade agreement
with Japan in 2011, which eliminated tariffs on goods traded between the two countries and
included provisions for cooperation in areas such as energy and infrastructure development.

● India-Malaysia Comprehensive Economic Cooperation Agreement: India signed a free trade

agreement with Malaysia in 2011, which eliminated tariffs on goods traded between the two
countries and included provisions for cooperation in areas such as education and tourism.

● India-Sri Lanka Free Trade Agreement: India signed a free trade agreement with Sri Lanka in 1998,
which eliminated tariffs on goods traded between the two countries.

● India-Thailand Free Trade Agreement: India signed a free trade agreement with Thailand in 2004,
which eliminated tariffs on goods traded between the two countries and included provisions for
cooperation in areas such as agriculture and tourism.

● India-MERCOSUR Preferential Trade Agreement: India signed a preferential trade agreement with
the South American regional bloc, MERCOSUR, in 2004, which reduced tariffs on goods traded
between the two regions.
 ● India-ASEAN Trade in Services and Investment Agreement: India signed an agreement with ASEAN
in 2014, which improved market access for services and investment between the two regions.

● These are some of the major free trade agreements of India, but there are several others that India
has signed with various countries.

List of Multilateral Agreement of India

India has signed various multilateral agreements with other countries and international organizations.
Some of the significant multilateral agreements of India are:

● Paris Agreement on Climate Change

● United Nations Framework Convention on Climate Change
● World Trade Organization (WTO)
● International Atomic Energy Agency (IAEA)
● International Renewable Energy Agency (IRENA)
● Comprehensive Nuclear-Test-Ban Treaty (CTBT)
● Convention on Biological Diversity (CBD)
● Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW)
● Convention on the Rights of the Child (CRC)
● Convention on the Prohibition of Chemical Weapons (CWC)
● International Criminal Court (ICC)
● International Labour Organization (ILO)
● International Monetary Fund (IMF)
● United Nations Convention on the Law of the Sea (UNCLOS)
● United Nations Educational, Scientific and Cultural Organization (UNESCO)
● United Nations Framework Convention on Climate Change (UNFCCC)
● United Nations High Commissioner for Refugees (UNHCR)
● United Nations Industrial Development Organization (UNIDO)
● World Health Organization (WHO)
● World Intellectual Property Organization (WIPO)
● This is not an exhaustive list, but it gives an idea of the broad range of multilateral agreements that
India has signed.

List of Bilateral Agreement of India

India has signed several bilateral agreements with other countries in various sectors such as trade,
defence, culture, education, and technology. Here are some of the significant bilateral agreements of India:

● India-US 123 Agreement - This agreement between India and the US aims to enable India to access
US civil nuclear technology and material. It was signed in 2008.
 ● India-Japan Comprehensive Economic Partnership Agreement - This agreement was signed in 2011,
and it aims to boost trade and economic relations between India and Japan.

● India-Russia Military Cooperation Agreement - India and Russia have a longstanding defence
relationship, and this agreement aims to enhance military cooperation between the two countries.

● India-Australia Comprehensive Strategic Partnership - This agreement aims to deepen bilateral

cooperation between India and Australia in areas such as defence, trade, and investment.

● India-Israel Strategic Partnership - This agreement was signed in 2017 and aims to strengthen
cooperation between India and Israel in areas such as defence, agriculture, and technology.

● India-Bangladesh Land Boundary Agreement - This agreement was signed in 2015, and it aims to
resolve long-standing border disputes between India and Bangladesh.

● India-Sri Lanka Economic and Technology Cooperation Agreement - This agreement aims to
enhance economic and technology cooperation between India and Sri Lanka.

● India-Singapore Comprehensive Economic Cooperation Agreement - This agreement was signed in

2005 and aims to boost trade and investment between India and Singapore.

● India-Germany Social Security Agreement - This agreement aims to promote social security
cooperation between India and Germany and to eliminate dual coverage of social security benefits.

● India-Maldives Cooperation Agreement - This agreement aims to deepen cooperation between

India and Maldives in areas such as defence, trade, and investment.

These are some of the significant bilateral agreements of India, but the country has signed many more
agreements with different countries.

List of preferential trade agreements of India

India has consented to a few Particular Exchange Arrangements (PTAs) with different nations to upgrade
exchange relations and give special admittance to one another's business sectors. Here are a portion of the
huge Special Arrangements of India:

● India-Sri Lanka International alliance - This understanding was endorsed in 1998 and gives special
admittance to one another's business sectors in a few labor and products areas.

● India-Thailand International alliance - This arrangement was endorsed in 2004 and gives special
admittance to one another's business sectors in products, administrations, and speculation areas.

● India-Mercosur Special Economic alliance - This understanding was endorsed in 2004 and gives
particular admittance to one another's business sectors in a few labor and products areas.

● India-Korea Far reaching Financial Association Arrangement - This understanding was endorsed in
2009 and gives particular admittance to one another's business sectors in products,
administrations, and speculation areas.
 ● India-ASEAN International alliance - This arrangement was endorsed in 2009 and gives special
admittance to one another's business sectors in products, administrations, and speculation areas.

● India-Japan Far reaching Financial Association Arrangement - This understanding was endorsed in
2011 and gives particular admittance to one another's business sectors in products,
administrations, and speculation areas.

● India-Malaysia Far reaching Monetary Participation Arrangement - This understanding was

endorsed in 2011 and gives particular admittance to one another's business sectors in merchandise,
administrations, and speculation areas.

● India-Kazakhstan Special Economic deal - This arrangement was endorsed in 2019 and gives
particular admittance to one another's business sectors in a few labour and products areas.

These are a portion of the critical Particular Arrangements of India. The nation has likewise consented to a
few different arrangements with various nations to improve exchange and venture relations.

List of regional Agreements of India

● India has signed several regional agreements with other countries and organizations to promote
economic cooperation, enhance trade and investment, and strengthen diplomatic relations. Here
are some of the significant regional agreements of India:

● South Asian Association for Regional Cooperation (SAARC) - This regional organization was
established in 1985, and India is a founding member. SAARC aims to promote economic
cooperation and regional integration among the eight member countries of South Asia.

● Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) - This
regional organization was established in 1997, and India is a founding member. BIMSTEC aims to
promote economic cooperation and regional integration among the seven member countries of
South and Southeast Asia bordering the Bay of Bengal.

● Indian Ocean Rim Association (IORA) - This regional organization was established in 1997, and India
is a founding member. IORA aims to promote economic cooperation and regional integration
among the member countries of the Indian Ocean Rim.

● Mekong-Ganga Cooperation (MGC) - This regional initiative was established in 2000, and India is a
founding member. MGC aims to promote economic cooperation and cultural exchanges among the
six member countries of the Mekong River basin and India.

● Bangladesh, Bhutan, India, Nepal (BBIN) Initiative - This sub-regional initiative was established in
2014, and it aims to promote regional integration and connectivity among the four member
countries through trade, transport, and energy cooperation.

● Asia-Pacific Economic Cooperation (APEC) - This regional organization was established in 1989, and
India is not a member. However, India is an observer and participates in APEC meetings to promote
economic cooperation and regional integration among the member countries of the Asia-Pacific
region.
● These are some of the significant regional agreements of India. The country has also signed several
other regional agreements and initiatives with different countries and organizations to promote
economic cooperation, enhance trade and investment, and strengthen diplomatic relations.