Commerce Secretary Rajesh Agrawal has urged Indian industry to actively leverage newly signed free trade agreements, arguing they hold major trade and investment potential. He stressed that modern FTAs extend beyond tariff cuts, covering services and regulatory cooperation, which can build a more predictable environment for investors and improve business outcomes.
Commerce Minister Piyush Goyal says India’s forthcoming free trade agreements will expand export opportunities and generate lakhs of jobs. He points to a recent pact with New Zealand as a key example, citing a USD 20 billion investment. Together, the agreements are expected to open fresh markets for Indian industries and strengthen trade growth.
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Commerce Minister Piyush Goyal met exporters and industry groups to push deeper use of free trade agreements to expand market access. Exporters sought extensions for export obligation timelines and broader trade relief measures, while flagging rising shipping costs and calling for an Indian shipping line. The talks come as India’s goods exports declined in March.
India and New Zealand are close to signing a free trade agreement after talks restarted in 2024, ending a decade-long pause. The proposed pact targets doubling bilateral trade to $5 billion over the next five years, as both sides look to expand market access and strengthen economic ties after years of delays.
Indian engineering exports reached a record $122.43 billion in FY25-26, a milestone credited to government support and trade agreements. The sector posted strong growth even as geopolitical tensions and changing trade policies threatened demand. EEPC’s Chadha highlighted the industry’s resilience and ability to adapt quickly to shifting global conditions, keeping momentum strong into FY26.
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