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As on : 14-Oct-2026

Economy - Reports
14-Oct-2026 16:18

India's trade agreements covers economies with a combined GDP of roughly $70 trillion, Commerce Ministry cites

Commerce Minister Piyush Goyal has stated that India has finalized preferential trade agreements with 38 developed nations during the past four years. Mr Goyal indicated India’s objective is to broaden market access for Indian enterprises while facilitating access to India’s markets for international partners. He observed that India’s trade agreements encompassed economies with an aggregate GDP of roughly 10 trillion dollars prior to 2014, which has now increased to approximately 70 trillion dollars. Mr Goyal further added that India is engaged in trade agreement negotiations with Canada, Mexico, Mercosur, Eurasia and numerous other countries. Mr Goyal emphasized that India is seeking reliable partnerships.

Mr. Goyal stated that the relationship between India and the US is highly consequential and poised for continued strengthening, regardless of shifts in political perspectives. He affirmed that India and the US sustain close ties and ongoing collaboration across multiple domains, encompassing defense exercises and initiatives to secure unimpeded supply chains for technology, goods, and services. The Minister elaborated that this relationship is propelled by economic, political, and security imperatives, reinforcing its trajectory of sustained advancement.

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