India enjoys preferential trade access to nearly two-thirds of global trade, says Piyush Goyal

Chennai (Tamil Nadu) [India], February 25 (ANI): Union Commerce and Industry Minister Piyush Goyal on Tuesday said that India now enjoys preferential trade access to nearly two-thirds of global trade, underscoring the country's growing global economic integration.
He was addressing the valedictory session of the 5th National Exports Competitiveness Summit 2026, organised by the Confederation of Indian Industry (CII). The Minister participated in the programme via video conferencing, while the summit was held at a private star hotel in Chennai.
The summit, themed "Reform, Perform and Transform," brought together senior government officials, policymakers, diplomats, financial institutions and industry leaders to deliberate on India's roadmap towards achieving a USD 1 trillion export target.
In his address, he said that at a time when the world faces uncertainty, India is "building bridges of trade, bridges of trust and bridges of transformation." He highlighted that under the leadership of Prime Minister Narendra Modi, India has concluded a series of high-quality Free Trade Agreements (FTAs), marking a significant shift in the country's trade trajectory.
He noted that within a span of six hours on the same day, India had launched FTA negotiations with the Gulf Cooperation Council, was engaged in finalisation discussions with Israel, and was preparing to initiate negotiations with Chile.
The Minister further pointed out that merchandise trade with Australia and the UAE has doubled following the conclusion of their respective FTAs, demonstrating the benefits of deeper trade partnerships for Indian exporters.
Outlining a four-point strategy to accelerate export growth, Goyal called for wider dissemination of FTA benefits to MSMEs and local clusters, a renewed focus on world-class quality standards, movement up the value chain towards higher-value products, and stronger corporate mentorship to build district-level export ecosystems.
The summit concluded with a call for stronger collaboration between government and industry to position India as a leading global export hub. (ANI)