In addition to the India-ASEAN ECSC, the Indeinem and Korean CEPAs were commissioned from 1 January 2010. In 2009-10 to 2018-19, bilateral trade between the two countries increased from about $12 billion to $21.5 billion and is more or less similar to trade in disinfaction with the world. However, Indian imports from Korea grew much faster than exports to Korea. While Indian imports increased by about 8%, exports to Korea increased by less than 4%. Although imports from Korea grew faster than imports from the world, the growth rate of exports to Korea was much slower than Indian exports to the world. This has resulted in a significant increase in India`s trade deficit with Korea from $5 billion between 2009 and US$10 billion in 2018-19 and a significant increase in Korea`s share of India`s total trade deficit from 4.7% to 6.5% over the same period. List of agreements between two states, two blocs or one bloc and one state. A comprehensive analysis of trade between India and its key free trade partners, discussed above, shows a significant increase in trade since the agreements came into force. SAFTA came into force on 1 January 2006 and, according to the Ministry of Trade and Industry, bilateral trade between India and other SAFTA member states increased from $6.8 billion in 2005-06 to $28.5 billion in 2018-19. India`s trade with SAFTA grew faster than its overall trade with the world. As a result, SAFTA`s share of India`s international trade increased from 1.6% in 2005-06 to 2.5% in 2018-19. At the same time, Indian exports to SAFTA countries grew faster than their imports from them, resulting in a significant increase in the trade surplus with these economies from about $4 billion to $21 billion. The maximum growth in exports to the SAFTA REGION was recorded with Bangladesh and Nepal.
Unless otherwise stated, you keep in mind the « EU concerns » for all the years indicated, the Current European Union with 27 Member States. India, which has not signed a trade agreement since 2012, will soon resume talks on a possible free trade agreement with the European Union and the United States. Even when the Narendra Modi government withdrew from the Comprehensive Regional Economic Partnership (RCEP), it is eager to enter into trade agreements with other economic blocs, said a leading source, adding that India could clearly gain amid growing anti-Chinese sentiment in many parts of the world.