India Signed Free Trade Agreement with Which Country

India has recently signed a free trade agreement (FTA) with Mauritius, a small island nation located in the Indian Ocean. The agreement was signed on February 22, 2021, at the India-Mauritius Joint Commission on Bilateral Cooperation, held virtually due to the COVID-19 pandemic.

The FTA aims to enhance bilateral trade between India and Mauritius by eliminating or reducing tariff and non-tariff barriers on a range of goods and services. This agreement is expected to benefit several sectors including pharmaceuticals, textiles, and auto components, among others. The FTA also includes provisions for investment protection and dispute settlement mechanisms.

India and Mauritius have had a strong historical and economic relationship. Mauritius is one of the largest sources of foreign direct investment (FDI) into India, and Indian companies have also invested heavily in Mauritius. The new FTA is expected to further strengthen this relationship and boost trade and investment flows between the two countries.

India has been actively pursuing FTAs with several countries in recent years. It has already signed FTAs with countries such as Japan, South Korea, and ASEAN member states. Negotiations for FTAs with several other countries, including Australia, the European Union, and the United States, are currently underway.

As a key player in the global economy, India is striving to increase its trade and investment ties with other countries to sustain its economic growth. FTAs are seen as an important tool in achieving this goal. However, FTAs have also been criticized by some, who argue that they can have negative impacts on domestic industries and workers.

In conclusion, India`s signing of an FTA with Mauritius is a positive development in the country`s efforts to enhance its trade and investment ties with other countries. While FTAs are not without their critics, they can provide significant benefits to participating countries, and this agreement is expected to boost bilateral trade and investment between India and Mauritius.

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