The utilisation of free trade agreements by Indian exporters is on the rise. During the financial year 2024-25, there was a sustained and notable increase in the issuance of Preferential Certificates of Origin (CoO) to Indian exporters under FTAs, particularly those with Australia and the United Arab Emirates (UAE).
These certificates are essential for Indian exporters to claim preferential tariff benefits under respective trade agreements, thereby enhancing the competitiveness of Indian goods in partner markets and facilitating smoother access to global value chains.
India has issued 77,234 such certificates in 2024-25 under the FTA with Australia as against 64,864 in 2023-24, registering an increase of 19.07% on year. For exports to UAE under the FTA 122,036 certificates were issued in 2024-25 as against 98,104 in 2023-24, which is an increase of about 24.66 per cent, commerce ministry data showed.
The India-UAE free trade agreement came into effect in May 2022, while the FTA with Australia was implemented in December 2022.
In total, 7,20,996 certificates have been granted during 2024-25, up from 6,84,724 in 2023-24. The trend is also evident in the monthly data for April and May 2025, where the number of CoOs issued grew from 5,643 in April 2024 to 6,395 in April 2025 (a 13.3% increase), and from 6,125 in May 2024 to 6,580 in May 2025 (a 7.4% increase).
“This consistent rise underscores the growing utilization of this FTA, likely driven by increased outreach, greater clarity on procedural requirements, and expanding trade relations,” sources said.
As awareness and utilization of these agreements continue to rise, further growth in trade is anticipated through FTAs thereby strengthening India’s position in global trade, they added.
India has operational FTAs with 13 countries or economic blocs including Japan, Singapore, Korea, UAE, Asean and Australia.