Renegotiating India’s Trade Pacts: A Study with Reference to India’s Comprehensive Economic Partnership Agreements with Japan and South Korea

India has signed 13 Free Trade Agreements (FTAs) to boost its exports as of October 2023. Many of these trade pacts are causing an increased trade deficit and only imperceptible improvements in market access for the country’s goods and services. Such trade pacts are inclusive of India’s Comprehensive Economic Partnership Agreements (CEPAs) with Japan and South Korea. The study employs both theoretical and empirical research to arrive at meaningful conclusions. It aims to analyse India’s export potential, revealed comparative advantage and services trade restrictiveness with reference to two of its FTA partners, namely Japan and South Korea. It aims to give suitable recommendations to different stakeholders in the area for ways to address rising trade deficits and make such trade agreements more conducive to domestic consumers’ and manufacturers’/exporters’ interests. JEL Codes: F10, F13, F15, F53, L60, L80, O30