Swati Sonal, LLM, Galgotias University
ABSTRACT
Free Trade Agreement (FTA) is “a pact between two or more nations to reduce barriers to imports and exports among them”. Under a free trade policy, goods and services can be bought and sold across international borders with “little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange”.
“According to data provided by the Directorate General of Commercial Intelligence and Statistics, India's merchandise exports to countries/regions with which India shares trade agreements such as FTAs have registered a growth of 20.75% in the last five years.”
In this paper I will discuss the FTA in India which comes under the third world nation. Further, I will discuss the rule of origin and impact on Indian market and economy.
Keywords: Free Trade Agreement, Third World Nation, Rule of Origin, India.
