- India has signed nine FTAs in the last four years, covering economies with a combined GDP of USD 60 trillion and 38 developed countries.
- Earlier trade agreements with countries including Japan and South Korea, as well as the Asean region, have opened access to another USD 10 trillion of GDP.
- Goyal, in Tokyo, stated that India is negotiating FTAs with at least 8-9 more groups, which could add another USD 15 trillion to the economies covered by its trade pacts.
- Goyal emphasized that India's expanding network of FTAs would eventually cover about 75 per cent of global trade, helping the country become a trusted partner in global value chains.
- India currently opens up preferential market access to USD 70 trillion of economy, and negotiations with other groups will add another $15 trillion.
- India offers significant investment opportunities in sectors such as data centres, manufacturing, and artificial intelligence.
- Growing economic ties between India and Japan should help move bilateral trade towards a more balanced position.
Commerce and Industry Minister Piyush Goyal is leading a business delegation of over 200 representatives to Tokyo, aiming to strengthen trade ties between India and Japan. Goyal announced that India is negotiating free trade agreements (FTAs) with 8-9 more groups, potentially adding USD 15 trillion to the economies involved.23
He emphasized that these agreements would cover 75% of global trade, positioning India as a trusted partner in global value chains. Currently, India has signed nine FTAs in the last four years, covering economies with a combined GDP of USD 60 trillion and 38 developed countries. Earlier agreements with Japan, South Korea, and the ASEAN region have already opened access to another USD 10 trillion of GDP.14
Goyal stated, "So today India opens up the doors to preferential market access to USD 70 trillion of economy. We are in negotiations with at least 8 or 9 other groups of countries or countries which will add another USD 15 trillion." He highlighted significant investment opportunities in sectors such as data centres, manufacturing, and artificial intelligence.56
The minister also noted that the growing economic ties between India and Japan should help move bilateral trade towards a more balanced position, enhancing cooperation and mutual benefits for both nations.7
“India's nine FTAs signed in the last four years already cover economies with a combined GDP of $60 trillion and 38 developed countries, while earlier pacts with Japan, South Korea, and ASEAN opened another $10 trillion. Goyal also highlighted investment opportunities in data centres, manufacturing, and artificial intelligence.”
