Piyush Goyal says India negotiating FTAs with 8 to 9 more blocs, aims to cover 75% of global trade
Commerce Minister Piyush Goyal announced that India is negotiating free trade agreements with several blocs, aiming to cover 75% of global trade. These efforts are intended to integrate India into global value chains and attract investment in sectors like AI and manufacturing.
Why it matters
Expanding trade pacts is a cornerstone of India's economic growth strategy and its goal to become a major global manufacturing hub.
India is in negotiations with at least 8 to 9 more groups of countries and individual nations that together account for another $15 trillion of GDP, Commerce and Industry Minister Piyush Goyal said on Monday (August 24, 2026).
He added that the country's free trade agreements would eventually cover about 75% of global trade and help position India as a trusted partner in global value chains.
India has a large domestic market and it opens its doors to the world with nine free trade agreements signed in the last four years, he said in Tokyo, while addressing business representatives from India and Japan.
These nine agreements cover economies with a combined GDP of $60 trillion and 38 developed countries.
The earlier trade pacts with countries, including Japan and Korea , and the ASEAN region have opened another $10 trillion of GDP.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in