India’s Commerce Minister Piyush Goyal has pledged to use Free Trade Agreements (FTAs) to make affordability and last-mile delivery India’s global strengths. Speaking at the Global Business Summit 2026, he highlighted how FTAs open 70% of world GDP to Indian exports at zero duty. This strategy aims to boost jobs and economic growth amid rising global trade tensions. In the past three years, India signed nine FTAs covering 38 countries, including the UK, EU, and US. These deals protect sensitive sectors like dairy and farmers while granting market access worth $55-60 trillion. Goyal noted textiles could double exports to the EU, creating 7-8 million jobs. With Qatar, an FTA targets mid-2026 to double trade from $14 billion to $30 billion by 2030.
Goyal emphasized FTAs will cut costs for consumers through cheaper imports and efficient supply chains. India’s last-mile delivery edge—via quick commerce and logistics—will shine in e-commerce and essentials. US tariff rollbacks on Indian goods further aid labor-intensive sectors like garments. Exporters are urged to leverage these for competitiveness.
By 2047, India eyes a $4 trillion economy boost via balanced trade. Principles of trust, transparency, and time-bound deals ensure no compromise on national interests. Goyal called FTAs a “structural shift,” drawing $100 billion FDI commitments. This positions India as a trade powerhouse.
FAQs [Frequently Asked Questions]
1. What did Piyush Goyal say about FTAs?
FTAs will make affordability and last-mile delivery India’s strengths, opening 70% of global GDP at zero duty.
2. How many FTAs has India signed recently?
Nine FTAs in three years cover 38 countries like UK, EU, US, protecting dairy while boosting exports.
3. What is the Qatar FTA timeline?
Mid-2026 target to double trade from $14B to $30B by 2030, with fast-tracked negotiations.
4. What jobs will FTAs create?
Textiles to EU could generate 7-8 million jobs via zero-duty access and market share gains.