Union Minister Piyush Goyal on Wednesday held a meeting with representatives of various Export Promotion Councils (EPCs) and industry organizations. During this, he discussed in detail the opportunities arising from the recently concluded trade agreements.
Several FTAs signed with major global economies in the last six years
The minister said in a social media post that he was pleased to meet representatives of various EPCS and industry organisations. He said the delegates expressed gratitude for the decisive leadership of Prime Minister Narendra Modi for successfully concluding several Free Trade Agreements (FTAs) with major global economies in the last six years.
Where was the main focus of the discussion?
- The main focus of the meeting was on the strategy to maximize the benefits of these agreements.
- The discussions focused on enhancing export competitiveness, expanding access to new markets and strengthening India’s position in global trade.
- The Minister said that these agreements have opened up vast opportunities for the industry, service sector and exporters.
Goyal also underlined that the role of industry organizations and EPCS is important, so that Indian businesses can fully utilize the benefits of these agreements. He said the government is committed to supporting industry, increasing exports and accelerating economic growth.
Trade diplomacy intensified in 2025
- In the year 2025, India gave new impetus to its trade diplomacy by signing many important trade agreements.
- The India-UK Comprehensive Economic and Trade Agreement (CETA) was signed on July 24, which is expected to provide major benefits to sectors like textiles and gems and jewellery.
- India-Oman Comprehensive Economic Partnership Agreement (CEPA) was signed on 18 December.
- On 22 December, the India-New Zealand Free Trade Agreement was formally concluded.
- Additionally, the India-EFTA Trade and Economic Partnership Agreement (with Switzerland, Norway, Iceland and Liechtenstein) came into effect from 1 October 2025, committing investment of $100 billion.
Big progress in 2026
- On January 27, 2026, India signed the India-EU Free Trade Agreement, giving Indian businessmen priority access to the vast and rich market of the European Union.
- This was soon followed by the announcement of an interim trade agreement between India and the US on February 7, under which US tariff rates were reduced from a high of 50 per cent to 18 per cent.
