The India-Sri Lanka Free Trade Agreement gives Sri Lankan goods zero duty on 4,150 Indian tariff lines
Background
The India-Sri Lanka Free Trade Agreement (ISFTA) was signed in 1998 and entered into force in March 2000.
Under it, 4,150 Indian tariff lines carry zero duty for Sri Lankan goods, and 3,932 tariff lines receive reciprocal treatment.
Special quotas apply for tea, textiles and garments with preferential margins.
More than 60% of Sri Lankan exports to India use ISFTA provisions, while only about 5% of Indian exports to Sri Lanka use these benefits.
In plain words
ISFTA India-Sri Lanka Free Trade Agreement — The bilateral trade agreement in force since March 2000.
Tariff line A single product heading in a customs tariff schedule — Concessions in a trade agreement are counted in tariff lines.