Commerce and Industry Minister Piyush Goyal on Monday emphasized that India's approach to Free Trade Agreements (FTAs) with complementary economies carefully balances both offensive and defensive interests of domestic industry, ensuring no sector is left vulnerable.
Union Minister of Commerce & Industry, Piyush Goyal, showcased India's strategic global outlook and economic leadership at the India Global Forum (IGF) 2025 in London today, the Ministry of Commerce and Industry added in a statement.
Bharti Enterprises Chairman Sunil Bharti Mittal on Thursday praised recently concluded Free Trade Agreements (FTAs) and advocated for One Nation, One Election for India's economic growth.
Indian industries are looking forward to more free trade agreements (FTAs) because such trade pacts are the key enablers for participating in the global value chain, said Sanjiv Puri, President of the Confederation of Indian Industry (CII) and Managing Director of ITC.
Free Trade Agreements (FTAs) are making India more competitive with markets like the United States of America, China and Brazil, said an official of the Commerce Ministry.
Speaking at FICCI's 98th Foundation Day celebrations in Mumbai, Minister Goyal invoked Mahatma Gandhi's nationalist ethos, urging India's industrial leaders to prioritise domestic value chains even when foreign alternatives appear more economical in the short term. He cited examples of Japan
The Foreign Trade Policy, effective from April 1, 2023, aims to integrate India more effectively into the global market, enhance trade competitiveness, and establish the country as a reliable trade partner.
Union Commerce and Industry Minister Piyush Goyal on Sunday said that India will finanlise free trade agreement with the United States of America by the end of the year.
Highlighting India's strategic approach, Goyal stated that India enters into FTAs with countries which are transparent, open and where Governments' economic systems align with India.
He said, "Let us partner to achieve the export target of USD 2 trillion by 2030. Given that we will cross $800 billion this year, we will need to really put in a lot of effort collectively to achieve USD 2 trillion. It will not happen by chance. It will happen by choice."
Union Minister of Commerce & Industry Piyush Goyal stated that the leather industry of the country has the potential to raise employment in the sector from current 40 lakh to 1 crore.
Union Minister Piyush Goyal has said that India is actively working on the process of free Trade Agreements (FTAs) with many countries and expressed confidence of fast progress with the United Kingdom, irrespective of the result of the British elections