Union Minister for Commerce and Industry Piyush Goyal has presented a grand vision for Indian exports, stating that ongoing Free Trade Agreement (FTA) negotiations with 38 countries will propel the nation’s exports to historic heights in the coming years. Addressing a trade summit in New Delhi, the Union Minister clarified that the Indian government is currently employing both aggressive and protective market strategies. These 38 nations include member states of the European Union (EU), the United Kingdom (UK), and the Gulf Cooperation Council (GCC), with whom final rounds of diplomatic and economic talks are underway. According to Piyush Goyal, the implementation of these agreements will not only grant Indian manufacturers ‘zero-duty’ access to international markets but will also make Indian exports highly competitive globally.
The Commerce Minister emphasized that the primary objective of these FTAs is not just to increase export volume, but to logically reduce the country’s trade deficit. Responding to critics, he stated that India no longer negotiates from a position of weakness, but bargains on the principles of equality and mutual benefit. These agreements are expected to provide a massive boost to India’s labor-intensive sectors—such as textiles, gems and jewelry, engineering goods, and pharmaceuticals—consequently creating millions of new jobs domestically. Additionally, easing visa and work processes for Indian professionals and IT experts in the service sector remains a core agenda item in these negotiations.
Amidst global geopolitical tensions and supply chain disruptions, Piyush Goyal urged the Indian industry to upgrade its quality standards to ensure the ‘Make in India’ brand becomes the most trusted name globally. He mentioned that the government is providing all possible assistance to industries through infrastructure development, reducing logistics costs, and enhancing the ‘ease of doing business’. The Union Minister expressed confidence that this extensive trade integration with 38 countries will realize the dream of making India a global manufacturing hub and play a pivotal role in achieving the ambitious target of $2 trillion in total exports by 2030.