India signs 8 FTAs with developed nations in 4 years: Piyush Goyal

Union Minister Piyush Goyal stated that India has signed eight FTAs in the last four years with developed nations, including the EU and EFTA. An agreement with Chile for critical minerals is also expected to be concluded soon, he added.

Union Minister of Commerce and Industry Piyush Goyal on Friday said that India has signed eight Free Trade Agreements (FTAs) in the past four years with developed countries, whose per capita GDP is significantly higher than India's, under the leadership of Prime Minister Narendra Modi.

Addressing the ICAI World Forum of Accountants in Greater Noida, Goyal said these FTAs cover all of Europe, including the 27-nation European Union and the four-nation EFTA. He further said that India is likely to conclude an FTA with Chile soon, which would help secure critical minerals essential to the country's growth and industrial needs. Speaking at the event, Union Minister Goyal said, "We have signed eight free trade agreements in the past four years with developed countries whose per capita GDP is much higher than ours. These FTAs cover all of Europe, the 27-nation European Union, and the four-nation EFTA. All of these countries need talent, skills, and young people for their economies to survive, let alone grow. We are engaged in active dialogue with many other developed nations, with different benefits to the nation. We will soon close an FTA with Chile, which will open up critical minerals for India."

In a post on X, Goyal said, "Truly delighted to be at the @TheICAI World Forum of Accountants in Greater Noida and address one of the largest gatherings of CAs. In my address at the event, I elaborated on India's growth story, highlighting the various Free Trade Agreements entered into under the leadership of PM @NarendraModi ji."

India-EU Conclude FTA Negotiations

India and the European Union (EU) on Tuesday announced the conclusion of negotiations for a Free Trade Agreement (FTA), an important milestone in one of India's most strategic economic partnerships.

Designed as a modern, rules-based trade partnership, the FTA responds to contemporary global challenges while enabling deeper market integration between the world's fourth and second largest economies.

With a combined market estimated at over Rs 2091.6 Lakh Crore (USD 24 trillion), bringing unparalleled opportunities for the 2 billion people of India and the EU, the FTA unlocks significant potential for trade and innovation.

The FTA delivers unprecedented market access for more than 99% of India's exports by trade value, while preserving policy space for sensitive sectors and reinforcing India's developmental priorities. (ANI)

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