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What trade agreements is India involved in?

by Samantha Greene / Jun 16, 2023 / 5m

India has been an attractive partner for commerce since ancient times. After all, the famous expedition of Christopher Columbus was initially aimed at discovering a safer and shorter route to India for spice imports. 

Within the last decade, India has developed close commercial ties with many countries and has signed trade agreements that allow it to export and import goods with a high profit margin. In this post, we are looking at current commercial treaties that India is part of.

Economic overview

India is one of the top 20 exporting countries in the world. The top 5 exports from the Republic of India are refined petroleum, diamonds, drugs and medicines, rice, and gems. Also, in 2021, the country was and still remains one of the primary global exporters of rice, pepper, cotton yarn, diamonds, and synthetic jewelry stones. By GDP, India is currently the 5th largest economy in the world.

Such a powerful economy cannot exist without a network of connections with other states around the globe. India has trade agreements with the UAE, China, the USA, Bangladesh, and Hong Kong. These are also the countries where the best part of Indian exports goes.