FTAs with US, EU soon; exporters to get full govt backing: Sitharaman

Finance Minister says trade deals with US and EU near finalisation as she assures Indian exporters of full support amid global slowdown and volatile trade conditions

Union Finance Minister Nirmala Sitharaman on Tuesday said that the trade talks with the United States (US) and the European Union (EU) are likely to end soon, assuring exporters of government support amid the challenging global environment.

 

“Intense trade negotiations are going on with the US and the European Union and should come to a conclusion sooner. Emphasis is being made on getting more free trade agreements signed,” Sitharaman said at Exim Bank’s Trade Conclave 2025 in New Delhi.

 

The Finance Minister pointed out that India's total exports have touched an all-time high of $825 billion at 6 per cent growth over the previous year, despite a challenging global environment. “This is a significant leap of $466 billion over 2013-14,” she added.

 

She also lauded the grit and perseverance of Indian exporters, acknowledging their continued success despite challenging global conditions.

 

“Despite that, I appreciate the Indian exporters putting in that kind of an effort, that they are still growing and finding real success. And therefore, on this particular occasion, I take this opportunity to congratulate all those exporters who have received their awards, but for those who have not received their awards, you're really swimming against the current and succeeding in it,” she said.

 

She further assured exporters of continued government support. “All support from the Government of India is all that I can assure you, because we need to do that more.”

 

The FM further highlighted that global trade was slipping, with institutions such as the Organisation for Economic Co-operation and Development (OECD) and World Bank projecting a decline. “Global growth in trade has suffered,” she said.

 

The FM's comments have come at a time when India is looking to deepen its export base while navigating an uncertain global economic climate brought about by US President Donald Trump’s tariffs and geopolitical uncertainties.

 

Sitharaman reiterated the government's commitment to supporting exporters through improved access to finance and structural reforms. “The government will give all support to exporters. Every year, we have had serious challenges in global trade,” Sitharaman said.

 

 

She pointed out that despite facing challenges in the last few years, the Indian exporters have performed well.

 

“From COVID in 2020 to Russia-Ukraine war in 2022 and the disturbances due to Hamas in 2023 and the recent tariff war, we have had serious challenges every year to global trade,” she said, while pointing out that the Indian exporters have upped the game with foraying into new markets and value added high tech products.

 

“While global exports grew at 4 per cent, India's exporters managed a 6.3 per cent growth,” she added.

 

“Tech-infused high-end products are getting exported today. India is not just exporting bulk raw goods or commodities. Today, high standard well-engineered products are being exported. Indian exporters have also been finding new markets,” she added.

 

Sitharaman pointed out that the government has taken five major steps to support exporters. “The first one is transport and logistics upgrade, which improves supply chain efficiency. Secondly, the government has provided targeted support to MSMEs. Third of the five is trade finance access,” she said.