India’s FTAs to open access to $85 trillion market; Piyush Goyal urges exporters

Benchmarks Nifty23,053.10116.35FEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return18.73 % Invest NowFEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return9.04 % Invest NowEnter search text:

The Economic Times daily newspaper is available online now. Read Today's Paper India’s FTAs to open access to $85 trillion market; Piyush Goyal urges exporters to go globalET OnlineLast Updated: Oct 30, 2026, 07:00:00 PM ISTSynopsis

India's trade agreements are expected to provide exporters preferential access to markets with a combined GDP of $85 trillion, covering 76% of the global economy, Commerce Minister Piyush Goyal said. He urged businesses to expand internationally, improve product quality and build global brands as India pursues additional trade pacts.

India’s expanding network of free trade agreements (FTAs) is expected to provide domestic exporters preferential access to markets with a combined gross domestic product (GDP) of $85 trillion, covering nearly 76% of the global economy, Commerce and Industry Minister Piyush Goyal said on Friday, urging businesses to look beyond the domestic market and build a global presence.

Addressing the fourth edition of the Festival of Ideas, Goyal said India had trade agreements covering economies with a combined GDP of around $10 trillion before 2014. Over the past four-and-a-half years, the government has concluded nine trade pacts covering 38 developed countries with a combined GDP of $60 trillion.

Also read: US trade deal will protect all sensitive Indian interests, says Piyush Goyal

India is negotiating another seven to eight trade agreements that could add markets worth $15 trillion, taking the total economic coverage of its trade arrangements to $85 trillion, out of the world's GDP of $115 trillion, he said.

India pursuing trade deals with Canada, GCC, Israel

The government is negotiating trade agreements with several countries and regional blocs, including Canada, Israel, Mexico, the Gulf Cooperation Council (GCC), the South African Customs Union (SACU) and Chile.

Live Events

Goyal said the expanding trade network would give Indian businesses greater access to international markets through FTAs, bilateral trade agreements and preferential trade arrangements.

"In such a big market, we will have preferential access through our various FTAs, bilateral trade agreements or preferential trade agreements...now is the time; we will start building global brands. Now is our time in the sun. We have to go global; we have to get out of the cosy comfort of the huge domestic market which consumes everything we produce and instead make world-class quality, package it well, (with) high-quality design," he said.

Also read: India will gain strong comparative advantage after US trade deal: Piyush Goyal

EU trade pact expected to be signed in December

Before 2014, India's trade agreements included pacts with Singapore, Japan and South Korea, as well as the 10-member Association of Southeast Asian Nations (ASEAN).

In the subsequent period, trade agreements with Australia, the United Arab Emirates, Mauritius, Oman, the United Kingdom, the European Free Trade Association (EFTA) and New Zealand have come into force.

The EFTA comprises Switzerland, Norway, Iceland and Liechtenstein, while the European Union has 27 member countries.

A comprehensive trade agreement with the European Union is expected to be signed in December and could come into effect next year, adding another major market to India's expanding trade network.

(With inputs from PTI)
Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onIndia free trade agreementsPiyush Goyal exportersglobal market access IndiaEU trade agreement December 2023India trade pactsIndia trade networkforeign market accessIndia export opportunitiesGCC trade agreement IndiaMinistry of Commerce and Industry
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onIndia free trade agreementsPiyush Goyal exportersglobal market access IndiaEU trade agreement December 2023India trade pactsIndia trade networkforeign market accessIndia export opportunitiesGCC trade agreement IndiaMinistry of Commerce and Industry Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition

• Can new data protection law guard against SBI-like data breaches?

• KYB and KYC: Quick commerce, the Damani premium and what DMart must deliver – 3rd and concluding part

• The tough business behind the walls

• KYC and KYB: Inside Damani’s DMart, the retail chain for the middle class. And stock for the long term? – Part 2 of 3

• Will it be a regulatory nightmare if an exchange lists on its own platform?

• KYC and KYB: Inside Damani’s Avenue Supermarts that refuses to charge more – Part 1 of 3

• 1
• 2
• 3

View all StoriesContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories
& personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions &
in-depth stock reportsSubscribe NowET

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Big Price Drop! Flat 40% Off

Student Only OfferAlready a Member? Sign In nowAlready a Member? Sign In nowAlready a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail OfferAvail OfferClaim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '

' + h3 + '

' + h4 + '

' + listing + '

'; $('#paidSCWidget').html(html); var callback = $('#paidSCWidget').attr('data-callback'); if(callback && window[callback]) { window[callback](); } customDimension.dimension72 += ' | Shown SYFT no Trial_With Missed Paywalled Articles Collection'; } else { _processNormal() } } }); } else { _processNormal(); } } catch (e) { _processNormal(); } }, function () { _processNormal(); }); //console.log('storyCollectionLoad', $); }

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with
in-depth insights that matter

• Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

  What Adani’s US indictment means for India Inc’s overseas fundraising

• Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

  Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?

• Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

  The problem with lab grown diamonds

• Why a falling rupee is a better option for the economy

  A list of top 20 momentum stocks that have delivered massive returns in one year

2Invest Wisely With Smart Market Tools & Investment Ideas

Alpha Trade

Get daily trade ideas from SEBI-registered research analysts.

Investment Ideas

Grow your wealth with stock ideas & sectoral trends.

Stock Reports Plus

All-in-one stock research with Stock Score, peer comparison & key signals.

BigBull Portfolio

Get to know where the market bulls are investing to identify the right stocks.

Stock Analyzer

Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.

Market Mood

Analyze the market sentiments & identify the trend reversal for strategic decisions.

Stock Talk Live at 9 AM Daily

Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.

3Stay informed anytime, anywhere with ET ePaper

ePaper - Print View

Read the PDF version of ET newspaper. Download & access it offline anytime.

ePaper - Digital View

Read your daily newspaper in Digital View & get it delivered to your inbox everyday.

Wealth Edition

Manage your money efficiently with this weekly money management guide.

TOI ePaper

Read the PDF version of TOI newspaper. Download & access it offline anytime.

Deep Explainers

Explore the In-depth explanation of complex topics for everyday life decisions.

Health+ Stories

Get fitter with daily health insights committed to your well-being.

Personal Finance+ Stories

Manage your wealth better with in-depth insights & updates on finance.

5Enjoy Complimentary Subscriptions From Top Brands

Stream new documentaries from all across the world every day.

Stories you might be interested in