GS3 › External Sector and Trade

Revision note: Foreign Trade Policy, the WTO and India's Trade Agreements

  • 2024–25 total exports ~$825 bn (goods ~$437 bn, services ~$387 bn); largest deficit with China (~$100 bn); US is the largest export market
  • FT(D&R) Act 1992; DGFT; FTP 2023 (from 1 Apr 2023, no end date; $2 trillion by 2030); RoDTEP replaced MEIS (WTO 2019)
  • DGTR: anti-dumping, countervailing and safeguard duties
  • WTO 1 Jan 1995, Geneva, 166 members; MFN, national treatment; AoA boxes (amber de minimis 10% developing); peace clause Bali 2013; Appellate Body dead since Dec 2019; MC12 Geneva 2022, MC13 Abu Dhabi 2024, MC14 Cameroon 2026
  • FTAs: UAE CEPA 2022, Australia ECTA 2022, EFTA TEPA (in force Oct 2025, $100 bn), UK CETA (signed July 2025); exited RCEP Nov 2019
Revision card summarising Foreign Trade Policy, the WTO and India's Trade Agreements
One-page visual summary of the key points to revise.

Source: https://upscprep.in/upsc/gs3/external-sector-and-trade/foreign-trade-policy-the-wto-and-indias-trade-agreements/ · UPSCPrep.in

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