India Pushes For Social Security Pacts In FTAs, Awaits US Nod
India already has social security agreements with 22 countries, including major economies like Germany, France, and Australia.
India has pitched for a social security agreement as part of the ongoing trade negotiations with the US, according to government sources.
The ball is said to now be in the US' court with regards to finalisation and acceptance.
India already has social security agreements with 22 countries, including major economies like Germany, France, and Australia. Notably, a similar agreement, the Double Contribution Convention, was recently inked with the UK as part of the India-UK Free Trade Agreement framework.
Separately, Labour Minister Mansukh Mandaviya on Wednesday confirmed that India is actively working to incorporate such pacts into future FTAs, and has formally requested the Commerce Ministry to pursue this approach.
Social security agreements help avoid the issue of double social security contributions, which is a concern for Indian professionals and companies sending employees abroad. These pacts typically allow workers to contribute only to the host country's system without being mandated to pay into both the Indian and foreign social security schemes.
