Business Across Borders 2021

16 India reports trade surplus with SAFTA member countries India’s reports trade deficit with other FTA/PTA partners US$ mn 0.00 1,000.00 2,000.00 3,000.00 4,000.00 5,000.00 6,000.00 7,000.00 8,000.00 US$ mn -60000 -50000 -40000 -30000 -20000 0 -10000 10000 Data pertains to FY20 Source: Ministry of Commerce Data pertains to FY20 Source: Ministry of Commerce India's poor experience in general with FTAs Relative unresponsiveness of India's exports to price as compared to income changes Widening trade deficit after signing of FTAs Low utilisation rates of FTAs by Indian exporters Dun & Bradstreet