New Delhi: Commerce and Industry Minister Piyush Goyal on Tuesday said India’s expanding network of free trade agreements has given the country preferential access to markets accounting for nearly two-thirds of global trade, as New Delhi pushes ahead with fresh negotiations.
Speaking at the CII National Exports Competitiveness Summit, Goyal said India has signed nine FTAs in recent years, largely with developed economies.
He argued that wider market access is critical for a country aiming to scale up manufacturing and exports.
Negotiations are continuing on multiple fronts. India has launched formal talks with the six-nation Gulf Cooperation Council bloc.
Discussions with Israel are moving forward, and engagement with Chile is focused on finalising an agreement that could also improve access to critical minerals. Talks with Canada are expected to begin shortly, with both sides working on finalising the terms for negotiations.
Goyal said trade outcomes are already visible in some cases. Merchandise trade with Australia and the United Arab Emirates has doubled since agreements with those countries came into effect, he noted.
The minister also referred to the Export Promotion Mission announced recently, which is aimed at supporting micro, small and medium enterprises.
The programme is expected to address issues such as access to credit, compliance with international standards and cost pressures that often limit smaller firms from entering overseas markets.
Outlining priorities ahead, Goyal emphasised greater awareness of FTA provisions among exporters, improved product quality, higher levels of value addition and stronger linkages between large firms and smaller suppliers at the district level.
He said export growth will depend not only on market access but also on consistent quality and productivity improvements across sectors.