Commerce and Industry Minister Piyush Goyal said India is negotiating free trade agreements with 8-9 more country groups and individual nations, representing another $15 trillion in combined GDP.
He said India’s FTAs could eventually cover around 75% of global trade, strengthening the country’s role in global value chains. India has signed nine trade agreements over the past four years, covering 38 developed countries with a combined GDP of about $60 trillion.
Earlier trade agreements with Japan, South Korea and ASEAN have opened access to markets worth around $10 trillion, Goyal said. With 8-9 more agreements under negotiation, India could gain access to another $15 trillion, potentially covering 75% of global trade through its FTAs.
Leading a 200-member business delegation in Japan, Goyal highlighted investment opportunities in data centres, manufacturing and artificial intelligence. He also said growing India-Japan economic ties should aim for more balanced trade.
