India Expands Global Trade Network with Seven FTAs and CEPAs in Five Years

Since 2021, India has finalised seven Free Trade Agreements (FTAs) and Comprehensive Economic Partnership Agreements (CEPAs), significantly broadening its preferential trade network, according to the Department of Commerce. 

These agreements span regions including Africa, the Gulf, Europe, and the Indo-Pacific, covering economies with a combined GDP exceeding $20 trillion, reflecting India’s push to diversify trade beyond traditional partners. In this read, we will explore 7 FTAs signed by India:

Mauritius CECPA: India’s First African Trade Pact

In 2021, India signed the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with Mauritius, marking its first trade deal with an African nation.

Bilateral trade with Mauritius was around $690 million in FY21 and has grown steadily, boosted by tariff concessions and expanded access for services under the agreement. Mauritius also serves as a strategic gateway for Indian investment into Africa, with over $160 billion of cumulative Indian FDI routed through the country over the past two decades.

India–UAE CEPA Drives Trade Past $100 Billion

Implemented in May 2022, the India–UAE CEPA is among India’s fastest-growing trade agreements.

Bilateral trade surged to $100 billion in FY25, up from $72 billion in FY22, reflecting a compound annual growth rate of over 11%. Indian exports to the UAE include gems and jewellery, petroleum products, engineering goods, electronics, and pharmaceuticals. Under the CEPA, over 90% of Indian tariff lines received preferential access, with phased reductions on remaining products.

Australia ECTA 

India’s Economic Cooperation and Trade Agreement (ECTA) with Australia, signed in 2022, covers bilateral trade of about $31 billion.

The deal eliminated tariffs on more than 85% of Indian exports, with a roadmap to nearly 100% tariff elimination over time. Immediate duty-free access benefits textiles, apparel, leather goods, pharmaceuticals, and jewellery, while services trade has expanded in education, IT, and professional services.

EFTA TEPA Backed by $100 Billion Investment Pledge

India concluded the Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA), Switzerland, Norway, Iceland, and Liechtenstein in 2024/25.

The agreement comes with a $100 billion investment commitment over 15 years, the largest linked to any Indian trade pact. The EFTA bloc accounts for over $18 billion in annual trade with India, with Switzerland contributing a significant share.

Tariff concessions cover over 90% of Indian exports, including pharmaceuticals, engineering goods, chemicals, and machinery.

India–UK CETRA Provides 99% Tariff-Free Access

The India–UK Comprehensive Economic and Trade Agreement, concluded in 2025, grants tariff-free access for nearly 99% of Indian exports.

Bilateral trade stands at $36 billion, with Indian exports spanning textiles, apparel, leather, engineering products, automotive components, and food items. The deal also addresses services trade and professional mobility.

Oman CEPA Offers Extensive Tariff Benefits

India’s CEPA with Oman, signed in 2025, provides zero-duty access on 98.08% of Omani tariff lines, covering about 99% of India’s exports by value.

Bilateral trade totals approximately $12.4 billion, with exports dominated by petroleum products, iron and steel, textiles, and machinery.

New Zealand FTA 

In 2025, India finalised a Free Trade Agreement with New Zealand after just nine months of negotiations.

The agreement offers tariff reductions on about 95% of traded goods, covering bilateral trade of roughly $2.8 billion, with provisions aimed at doubling trade volumes in the medium term while safeguarding sensitive sectors.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.