New Delhi - The Government is closely monitoring all the free trade agreements which it has signed and based on stakeholder consultations, existing FTAs with ASEAN and Korea are being reviewed, Parliament was informed recently. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Anupriya Patel said the Government is negotiating FTAs with the European Union, the UK, European Free Trade Association (EFTA) and Canada.

These negotiations or its review are a long-drawn process and the timeline for completion of such negotiations cannot be predicted since the parties to the negotiations are required to agree to the outcome, she said.

"India has signed 13 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs) with its trading partners...The government is closely monitoring these FTAs and based on stakeholder consultations, the experience and assessments thereof, the government is in the process of reviewing its existing FTAs with ASEAN and Korea," the Minister said.