📷 Image: Wikimedia Commons / Ministry of Commerce and Industry (India)
Business
Trade Minister Piyush Goyal says India's trade pacts now cover $70 trillion of global GDP
✍️ Business Today
🗓 15 Oct 2026, 07:46 AM
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Speaking at the Bloomberg New Economy Forum, Trade Minister Piyush Goyal announced that India's network of trade agreements now spans economies representing $70 trillion in GDP.
Trade Minister Piyush Goyal highlighted a milestone for India's external trade policy during his address at the Bloomberg New Economy Forum. He said that the cumulative gross domestic product of countries covered by India's free trade agreements and preferential trade deals now totals about $70 trillion.
The figure reflects the expansion of India's trade network, which now includes agreements with major economies across Asia, Europe, Africa and the Americas. Goyal noted that broader market access under these pacts is expected to boost Indian exports, attract foreign investment and strengthen the country's position in global supply chains.
While the minister did not disclose specific targets, he emphasized that the enlarged coverage aligns with India's ambition to become a leading hub for trade and manufacturing. Analysts view the $70 trillion benchmark as an indicator of the growing economic weight of India's trade partners, potentially translating into higher trade volumes in the coming years.
The figure reflects the expansion of India's trade network, which now includes agreements with major economies across Asia, Europe, Africa and the Americas. Goyal noted that broader market access under these pacts is expected to boost Indian exports, attract foreign investment and strengthen the country's position in global supply chains.
While the minister did not disclose specific targets, he emphasized that the enlarged coverage aligns with India's ambition to become a leading hub for trade and manufacturing. Analysts view the $70 trillion benchmark as an indicator of the growing economic weight of India's trade partners, potentially translating into higher trade volumes in the coming years.