Summary: International trade is redefined today in terms of trade in value added and global value chains. Most countries trade both in finished goods as well as intermediates. India, a less talked about country in the context of trade through value chains cannot remain insulated from the new trend. This paper investigates key factors associated with India’s international trade of both intermediates and finished products at a sectoral level. The significance of bilateral and multilateral trade agreements is specifically analysed in furthering each type of trade. Finally industry specific effects of trade in intermediates and final products are also brought to light.