Overview of India's Trade Engagement
As of August 2025, India's trade architecture consists of
thirteen operational Free Trade Agreements (FTAs), six Preferential
Trade Agreements (PTAs), several Bilateral Investment Treaties
(BITs), and an active pipeline of regional and bilateral
negotiations. This evolving network reflects a calculated shift in
India's foreign trade strategy from a purely tariff-reduction
approach to one that integrates market access with investment
facilitation, technology cooperation, and supply chain
resilience.
The trade data for FY 2023–24 and FY 2024–25
demonstrates this shift in action. Merchandise exports grew from
USD 451 billion to USD 465 billion, with engineering goods,
pharmaceuticals, and Agri-commodities benefiting the most from
preferential access under FTAs. Imports also rose, from USD 714
billion to USD 728 billion, driven mainly by crude oil,
electronics, and gold. However, the trade deficit remained steady
at approximately
