India is actively negotiating Free Trade Agreements (FTAs) with **8-9 more countries and blocs**, potentially adding access to economies worth another **$15 trillion** in GDP. Commerce Minister Piyush Goyal announced this, aiming for India's FTAs to eventually cover **75% of global trade**.
8-9
New Countries/Blocs in FTA Talks
⏳ Time Machine
How today’s news fits into the bigger picture
Early 1990s
Economic Liberalization
India began a significant shift from a protectionist economy towards liberalization, gradually opening up to global trade and investment, laying the groundwork for future trade agreements.
2000s
Early FTA Engagements
India signed its first major Free Trade Agreements, including the FTA with ASEAN, aiming to integrate with regional economies and boost trade.
2018-2022
RCEP Withdrawal and New Focus
India withdrew from the RCEP trade bloc negotiations in 2019 but subsequently intensified efforts to secure bilateral FTAs, signing 9 new preferential trade agreements in four years.
2023
Japan FTA Deepened
India and Japan worked to deepen their existing Comprehensive Economic Partnership Agreement (CEPA), targeting increased bilateral trade and investment. Minister Goyal is currently in Japan to further these ties.
Mid-2026
Current FTA Reach
Prior to today's announcement, India's existing trade pacts provided preferential market access to economies with a combined GDP of $70 trillion, encompassing 38 developed countries.
Today
Commerce Minister Piyush Goyal announced India is negotiating Free Trade Agreements with 8-9 more countries/blocs, aiming to cover 75% of global trade.
What happens next?
Negotiations for these new FTAs will continue, with the government focusing on specific sectors for benefits and monitoring how they impact India's export competitiveness and domestic industries.
Union Commerce and Industry Minister Piyush Goyal announced today that India is currently in negotiations for Free Trade Agreements (FTAs) with an additional **8 to 9 groups of countries and individual nations**. These potential new partners collectively represent economies with a combined Gross Domestic Product (GDP) of another **$15 trillion**. This strategic move aims to expand India's preferential market access significantly, with Goyal stating that India's FTAs would eventually encompass approximately **75% of global trade**. The minister, currently in Tokyo leading a business delegation, highlighted this as part of India's efforts to position itself as a trusted partner in global value chains and attract investments in sectors like data centers, manufacturing, and artificial intelligence.
💭 If you're wondering…
An FTA typically eliminates tariffs on 'substantially all trade' between member countries. A PTA is a less comprehensive agreement that reduces tariffs on only a limited number of goods and services, offering preferential access rather than free trade.
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