A preferential trade agreement (PTA) between India and the Mercosur countries took effect on June 1.

Products that will be most affected by the PTA include raw hides and skins, meat and meat products, leathergoods, dyes and pigments, electrical machinery and equipment and chemicals, among others.

Total trade between the two was valued at $4.8 billion in the 2007-08 financial year. Indian exports accounted for $2.9 billion of the total and Mercosur exports totalling $1.9 billion.

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