India’s Free Trade Agreements with major economies are opening access to markets worth nearly $60 trillion and boosting opportunities for exporters, according to Commerce Minister Piyush Goyal. The government says the agreements are helping strengthen India’s position as a global manufacturing and export hub….reports Asian Lite News Desk
India’s recent Free Trade Agreements (FTAs) with major economies are opening access to markets worth nearly $60 trillion and supporting the country’s ambition to become a global export hub, Union Commerce and Industry Minister Piyush Goyal has said.
The minister credited Prime Minister Narendra Modi’s leadership for India’s expanding trade strategy, highlighting the role of FTAs in increasing market access for Indian exporters, attracting investment and boosting domestic manufacturing.
In a video shared on social media platform X on Wednesday, Goyal said the agreements negotiated under PM Modi’s leadership were designed to expand opportunities for Indian businesses and provide access to some of the world’s largest markets.
“Here’s why India is signing multiple Free Trade Agreements with major economies,” Goyal said in the post, adding that the agreements were providing access to major international markets.
According to the video, India’s exports have grown by 73 per cent over the past five years. It stated that FTAs have helped key sectors, including textiles, gems and jewellery, engineering goods and pharmaceuticals, benefit from lower or zero-duty access in overseas markets.
The government has identified trade agreements as a central element of its strategy to strengthen exports, attract foreign investment and integrate Indian businesses into global supply chains. Officials say the agreements are also helping to expand India’s manufacturing capabilities while creating employment opportunities.
The video highlighted that sensitive domestic sectors, including dairy and agriculture, are being safeguarded under the trade agreements while still creating opportunities for investment inflows and economic growth.
In addition to improving market access, the FTAs are expected to bring billions of dollars in investment into India. The government says these investments will contribute to manufacturing growth, job creation and the integration of Indian businesses into global value chains.
India has accelerated efforts in recent years to negotiate trade agreements with major economies as part of a broader strategy to strengthen its export competitiveness. The government’s approach focuses on expanding opportunities for domestic producers while positioning India as an increasingly significant player in international trade.
Goyal said the agreements reflect the government’s vision of transforming India into an export-driven economy and enhancing its role in global commerce.
The announcement comes as the government reported record export figures for the financial year 2025-26. On Tuesday, Parliament was informed that India recorded its highest-ever exports during the fiscal year, reaching $863.1 billion.
According to figures shared in the Lok Sabha by Minister of State for Commerce and Industry Jitin Prasada, merchandise exports stood at $441.8 billion, while services exports reached $421.3 billion during FY2025-26.
The data reflects growth across both goods and services exports, underscoring the contribution of multiple sectors to India’s overall export performance.
The government has consistently highlighted FTAs as an important policy tool for expanding trade relationships, increasing investment flows and supporting India’s long-term economic ambitions. The latest figures and trade initiatives form part of wider efforts to strengthen the country’s global economic footprint through export-led growth.
