India Free Trade Agreements to Expand Global Trade Access
India is negotiating free trade agreements with 8-9 more groups of countries and individual nations, Commerce and Industry Minister Piyush Goyal said on Monday.
The proposed agreements could add another USD 15 trillion to the economic coverage of India’s trade partnerships. Goyal said the India Free Trade Agreements network could eventually cover about 75% of global trade.
The expansion is aimed at improving India’s access to international markets and positioning the country as a trusted partner in global value chains.
India Expands Preferential Market Access
India has signed nine free trade agreements over the past four years, Goyal said while addressing business representatives from India and Japan.
These agreements cover economies with a combined GDP of around USD 60 trillion and include 38 developed countries.
Earlier trade agreements with partners such as Japan, South Korea and the ASEAN region have added another USD 10 trillion in economic coverage.
Goyal said India now has preferential market access to economies representing around USD 70 trillion in GDP.
India Free Trade Agreements Target 75% of Global Trade
The next round of India Free Trade Agreements could add another USD 15 trillion in economic coverage.
According to Goyal, the combined network could eventually cover about 75% of global trade. This would further integrate India into global value chains and create opportunities for Indian businesses to expand their international presence.
The government is also seeking to position India as a reliable and trusted trade partner.
Investment Opportunities in India
Goyal is leading a business delegation of more than 200 representatives in Japan to strengthen bilateral trade and investment ties.
He highlighted investment opportunities in sectors including data centres, manufacturing and artificial intelligence.
The minister also said stronger economic ties between India and Japan should contribute to more balanced bilateral trade.
