China is India`s largest trading partner, accounting for nearly 10% of India`s total trade. The Sino-Indian trade scenario can be summed up as follows: Why can GST not implement FREE TRADE for Asian countries, it is implemented directly by Indian consumers in order to implement taxes for other countries. Free trade policy does not benefit the government. Free trade agreements can have an impact in many respects on a signatory country, depending on the scope of the agreements, the depth and breadth of the commitments made and the availability and capacity of the national government. The potential impact of a free trade agreement on the economy or exports is subject to many reservations. Free trade agreements can only guarantee market access for appropriate quality products manufactured at competitive prices. Improving competitiveness at the enterprise level is a must. The government can help by guaranteeing lower tariffs on raw materials and intermediate products than on the finished products concerned. It can set up a sophisticated quality and standard infrastructure for essential products.

Most countries regulate imports by such requirements and not by tariffs. The Global Regional Economic Partnership, also known as RCEP, is a mega trading bloc negotiated between the ten asean members and six other members, namely South Korea, Australia, China, Japan, New Zealand and India. It is a free trade agreement (FTA) proposed by these nations and includes goods and services, investments, intellectual property rights, economic and technical cooperation and dispute resolution. A free trade agreement is an agreement between countries to reduce or remove trade barriers. Tariff barriers, such as taxes and non-tariff barriers, such as regulatory laws, are among the barriers to trade. I would like to know if I am importing substance to make clothes, and I have sent it to South Korea and Japan as part of the free trade agreement, (Code H.S. – 6104 – 6204) there are all taxes on Korea and Japan for the use of imported material, or it can be imported duty-free. and if there is an obligation to pay, what percentage of the tax is. I would also like to know what the local tax is in this country (S.Korea – Japan) for the above product. Over the years, with trade statistics and figures, it is easy to decipher the trade imbalance in favour of ASEAN and India, which has a growing trade deficit with the region, which is severely damaging their current account deficit, which is affecting India overall in terms of fiscal employment.

They forget that India has free trade agreements with the Association of Southeast Asian Nations (ASEAN), Japan, South Korea and that three-quarters of bilateral trade is already tariff-free.