Govt Preparing FTA Utilisation Strategy To Boost Exports
India is preparing a comprehensive FTA utilisation strategy to help businesses maximise benefits from recently signed free trade agreements with major developed economies, according to government officials.
Since 2021, India has concluded trade agreements with countries and blocs including Australia, United Arab Emirates, United Kingdom, European Free Trade Association, European Union and United States, covering 38 countries with combined imports of nearly US$ 12 trillion.
Key Indian sectors receiving duty-free market access under these agreements include textiles and apparel, agriculture, gems and jewellery, leather products, engineering goods, electronics, chemicals and pharmaceuticals.
Piyush Goyal has held multiple consultations with industry associations, export promotion councils and businesses to improve utilisation of these agreements and strengthen India’s export competitiveness. Officials said review meetings were recently held to assess the progress of FTAs and prepare a roadmap for securing sanitary and phytosanitary approvals for Indian agricultural and fisheries products in global markets.
Indian missions abroad and line ministries have also been involved in the process. Their responsibilities include improving awareness of FTAs, identifying market opportunities, resolving non-tariff barriers, aligning domestic production with global standards and supporting trade facilitation.
India aims to increase combined goods and services exports to US$ 2 trillion in the coming years. The country’s total exports rose 4.6 per cent to a record US$ 863.11 billion in FY26 despite global economic uncertainties.
Commenting on the developments, Shishir Priyadarshi said FTAs should be viewed not only as tariff-reduction tools but also as opportunities for Indian companies to integrate into global value chains and expand higher-value manufacturing and services exports.
