India is building bridges of trade, trust and transformation and enjoys preferential trade access to nearly two-thirds of global trade: Piyush Goyal

Union Minister of Commerce and Industry Shri Piyush Goyal said that at a time when the world is grappling with uncertainty, India is building bridges of trade, trust and transformation, and now enjoys preferential trade access to nearly two-thirds of global trade owing to a series of high-quality free trade agreements (FTAs) concluded under the leadership of Prime Minister Narendra Modi.

Goyal highlighted the rapid pace of trade engagement, noting that within a span of six hours the Minister had engaged in three FTA-related discussions. India signed a joint statement launching FTA negotiations with the six-nation bloc of the Gulf Cooperation Council (GCC) in the Middle East. Shortly thereafter, Goyal met the Israeli negotiating team to advance discussions on finalising an FTA. The Minister said that he will also hold discussions with the Chilean counterpart to conclude a new-age FTA that will provide India greater access to critical minerals.

 

He further informed that the Prime Minister of Canada is expected to visit India shortly, and both sides are hopeful of finalising the terms of reference and launching FTA negotiations with Canada later this week. The Minister described this strategic network of FTAs as part of Indias approach to de-risking through diversified trade partnerships, calling it unprecedented in scale and ambition.

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