Business · Trade · 18 hrs ago
India says trade agreements are widening its global economic ties
India’s Trade Minister Piyush Goyal says the country has concluded nine free trade agreements in about four to four and a half years.
He said the agreements cover 38 developed economies and are intended to expand trade and support India’s economy.
The government says it consults businesses, farmers, fishermen and small firms when negotiating deals.
These discussions are meant to open overseas markets while taking care with sectors that could be affected.
India is also negotiating with partners including Canada, Israel, Chile and countries in the Gulf Cooperation Council.
Talks with Mexico are due to begin, according to Goyal.
The negotiations are part of India’s effort to broaden its trade links, though no further completion dates are given.
Piyush Goyal said India has concluded nine free trade agreements covering 38 developed economies over the past four to four and a half years.
He said the agreements are intended to deepen global economic ties, support micro, small and medium enterprises, and expand the economy.
Goyal said trade negotiations involve consultations with businesses, farmers and fishermen, with care taken over sensitive sectors.
He cited ongoing or planned talks with the Gulf Cooperation Council, Israel, Chile, Mexico, Canada and Central Asian countries.
- Who
- Union Minister Piyush Goyal.
- What
- He said India’s trade agreements are broadening its global economic ties and supporting domestic businesses.
- When
- Saturday, at the 121st Annual Session of the PHD Chamber of Commerce and Industry. The article was published on 2026-10-11.
- Where
- New Delhi; the speech was at the PHD Chamber of Commerce and Industry’s annual session.
- Why
- Goyal said the agreements aim to deepen integration with global economies, empower MSMEs and accelerate economic growth.
This story does not have two clearly opposing sides.
When you see world leaders making up the line to engage with India to expand trading relations. After all, in the last 4 to 4.5 years, we have concluded 9 Free Trade Agreements. Collectively covering 38 developed nations.
And these days, when an FTA is signed, it's not done by government offices. It's decided after talking to the industry. It's decided after talking to farmers. The concerns of fishermen are heard. Keeping in mind the difficulties our MSMEs face and what matters to them,
Earlier trade pacts provided preferential access to an aggregate global GDP of USD 10 trillion, Goyal said.
India concluded nine free trade agreements covering 38 developed economies, according to Goyal.
Goyal spoke about India’s trade agreements and ongoing negotiations at the PHD Chamber of Commerce and Industry’s 121st Annual Session.
- Trade agreements concluded
- 9 over the past four to four and a half years
- Economies covered
- 38 developed economies
- Earlier pacts
- Preferential access to an aggregate global GDP of USD 10 trillion
- GCC negotiations
- The six Gulf countries have launched negotiations for a GCC free trade agreement
- Other talks
- Negotiations are ongoing with Israel, Chile, Canada and Central Asian countries; talks with Mexico were due to launch the following week
Sources
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