CHENNAI, Feb. 25 — Union Commerce and Industry Minister Piyush Goyal said India is strengthening its global economic partnerships despite rising international uncertainty, emphasizing that the country now enjoys preferential trade access to nearly two-thirds of global commerce.
Goyal made the remarks while addressing the valedictory session of the 5th National Exports Competitiveness Summit 2026, organized by the Confederation of Indian Industry. He participated via video conference, while the summit was held in Chennai.
“When the world is facing uncertainty, India is busy building bridges of trade, trust and transformation,” Goyal said, highlighting India’s growing role in global commerce.
He noted that India has concluded nine free trade agreements under the leadership of Prime Minister Narendra Modi, all with developed economies.
“Today, India enjoys preferential trade access to nearly two-thirds of global trade. All nine FTAs done under Prime Minister Modi’s leadership have been with developed economies that do not compete with India but complement India’s journey toward rapid growth,” he said.
Goyal said India’s global trade position has shifted significantly in recent years, with growing international interest in expanding economic ties.
“Today, the world no longer asks whether to trade with India. Increasingly, the question being asked is how quickly can we trade with India and how quickly can we expand business with India,” he said.
He added that India had advanced multiple trade initiatives within a single day, including launching FTA negotiations with the Gulf Cooperation Council, holding finalization discussions with Israel, and preparing to initiate negotiations with Chile.
Goyal also noted that merchandise trade with Australia and the United Arab Emirates has doubled following the conclusion of free trade agreements, demonstrating the benefits of deeper economic partnerships.
Outlining a strategy to accelerate export growth, Goyal called for wider dissemination of FTA benefits to micro, small, and medium enterprises and regional clusters, improved adherence to global quality standards, movement toward higher-value exports, and stronger corporate mentorship to develop district-level export ecosystems.
The summit concluded with a call for stronger collaboration between government and industry stakeholders to position India as a leading global export hub.
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