India has entered into several Free Trade Agreements (FTAs) that provide for the possibility of imposition of bilateral safeguard measures when increase in imports causes injury to the domestic industry in India. The bilateral safeguard measure can be in the form of temporary suspension of further reduction or withdrawal of tariff preferences; some also contain provisions relating to preliminary safeguard duty, transition period, duration of safeguard measure, liberalization of safeguard duty, among others. Provisional bilateral safeguard measures were imposed in case of Refined Palm Oil from Malaysia and in case of Phthalic Anhydride & Polybutadiene Rubber from Korea. Bilateral safeguard measures are an effective tool in protecting the domestic industry from a sudden increase in imports, and also help in reversing trade deficits.