India Eyes 75% Global Trade Coverage Through New FTAs
Goyal says talks underway with 8–9 countries and trade blocs to expand India’s preferential market access
India is negotiating free trade agreements (FTAs) with at least eight to nine additional countries and trading blocs as it seeks to expand its integration with global markets and cover nearly 75% of global trade through its trade agreements, Commerce and Industry Minister Piyush Goyal said.
Speaking to business representatives from India and Japan, Goyal said India’s nine trade agreements signed over the past four years already provide preferential market access to economies representing a combined GDP of around US$ 60 trillion and 38 developed countries.
Existing agreements with Japan, South Korea and the ASEAN region add access to economies worth another US$ 10 trillion, taking the total value of markets covered by India’s FTAs to around US$ 70 trillion.
According to Goyal, ongoing negotiations with another eight to nine countries or groups could add a further US$ 15 trillion to the economic base covered by India’s trade agreements. The expansion, he said, would strengthen India’s position as a reliable and trusted partner in global value chains.
“Basically, 75 percent of global trade will be covered through our free trade agreements,” Goyal said, highlighting the government’s strategy of combining India’s large domestic market with greater access to international markets.
Goyal was leading a business delegation of more than 200 representatives to Japan aimed at strengthening bilateral trade and investment ties. He also highlighted significant investment opportunities in India across sectors such as data centres, manufacturing and artificial intelligence.
The minister said the deepening economic relationship between India and Japan should also contribute to achieving a more balanced bilateral trade relationship.
