📷 Image: Wikimedia Commons / Prime Minister's Office
Business
India seeks FTAs with 8-9 blocs to cover 75% of its trade, says Goyal
✍️ Business Standard
🗓 24 Aug 2026, 01:36 PM
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Trade Minister Piyush Goyal said India is negotiating free trade agreements with eight to nine regional blocs, aiming to encompass three‑quarters of its total trade.
New Delhi – Trade Minister Piyush Goyal told Business Standard that India is in the final stages of negotiating free trade agreements (FTAs) with eight to nine major trading blocs. The government’s objective is to bring roughly 75 percent of India’s total trade under the umbrella of these agreements, thereby enhancing market access for Indian exporters and reducing tariff barriers.
The push for a broader FTA network follows a strategic shift toward deeper economic integration with key regions, including the European Union, the Association of Southeast Asian Nations (ASEAN), and the Gulf Cooperation Council (GCC). By covering a larger share of trade, the government expects to boost foreign investment, improve supply‑chain resilience, and support sectors ranging from textiles to technology.
Goyal indicated that negotiations are progressing on multiple fronts, with formal talks already underway with several blocs. While exact timelines remain fluid, officials anticipate concluding at least a few agreements within the next fiscal year, after which they will be presented to Parliament for ratification.
The push for a broader FTA network follows a strategic shift toward deeper economic integration with key regions, including the European Union, the Association of Southeast Asian Nations (ASEAN), and the Gulf Cooperation Council (GCC). By covering a larger share of trade, the government expects to boost foreign investment, improve supply‑chain resilience, and support sectors ranging from textiles to technology.
Goyal indicated that negotiations are progressing on multiple fronts, with formal talks already underway with several blocs. While exact timelines remain fluid, officials anticipate concluding at least a few agreements within the next fiscal year, after which they will be presented to Parliament for ratification.