India negotiating FTAs with 8-9 more blocs, aims to cover 75% of global trade: Commerce and Industry Minister Mr. Piyush Goyal
- IBEF
- August 25, 2026
India is negotiating Free Trade Agreements (FTAs) with 8-9 additional groups of countries and individual nations that together represent around Rs. 1,434.15 lakh crore (US$ 15 trillion) in GDP, Commerce and Industry Minister Mr. Piyush Goyal said. India has signed nine FTAs over the past four years, covering economies with a combined GDP of around Rs. 5,736.60 lakh crore (US$ 60 trillion) and 38 developed countries. Earlier trade agreements with countries including Japan and South Korea, along with the Association of Southeast Asian Nations (ASEAN) region, have opened preferential market access to economies representing another Rs. 956.10 lakh crore (US$ 10 trillion) in GDP. With the ongoing negotiations, India aims to eventually have FTAs covering around 75% of global trade, strengthening the country's integration into global value chains and positioning India as a trusted partner. Mr. Piyush Goyal was speaking in Tokyo while leading a business delegation of more than 200 representatives to strengthen India-Japan trade and investment ties. The government is also seeking to expand investment opportunities in India across areas including data centres, manufacturing and artificial intelligence.
India's existing FTAs currently provide preferential market access to economies representing around Rs. 6,692.70 lakh crore (US$ 70 trillion) in GDP, while ongoing negotiations could add another Rs. 1,434.15 lakh crore (US$ 15 trillion). The expanding network of trade agreements is expected to provide Indian businesses with greater access to international markets and support deeper integration into global value chains. The government is also focusing on strengthening economic engagement with Japan and promoting investment across emerging and high-growth sectors. Mr. Piyush Goyal highlighted the importance of ensuring more balanced trade between India and Japan as bilateral economic ties expand. The broader trade strategy is aimed at improving market access, supporting exports, attracting investment and creating opportunities for Indian businesses to participate more actively in global supply chains. The expansion of India's FTA network is expected to further strengthen India's position in global trade while supporting manufacturing, investment and export growth.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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