Piyush Goyal Calls for Nationwide FTA Drive
Commerce Minister seeks wider FTA utilisation to boost exports and expand India’s global trade footprint
- India’s nine FTAs cover economies with about $60 trillion GDP
- Preferential access could reach nearly two-thirds of global trade
- India’s exports touched about $317 billion during April-July
- Goyal calls for FTA outreach across all districts, MSMEs and first-time exporters
GG News Bureau
New Delhi, 3rd Sept: Union Commerce and Industry Minister Piyush Goyal on Thursday called for a nationwide drive to maximise the utilisation of Free Trade Agreements (FTAs) and expand India’s presence in global markets.
Addressing a national workshop on “Leveraging FTAs an Outreach Programme” in New Delhi, Goyal said the initiative should reach businesses across all 780 districts, including MSMEs, traders, entrepreneurs, startups and women entrepreneurs.
Goyal said India’s nine FTAs currently provide preferential access to economies representing around $60 trillion in GDP, covering nearly two-thirds of global trade. He said upcoming agreements with countries and blocs including Canada, Mexico, Chile, Mercosur, SACU, GCC and Israel, along with efforts to deepen market access with ASEAN, Korea and Japan, could give India access to around 75% of global trade at rates lower than those faced by competitors.
The Minister said the effectiveness of an FTA should be assessed by comparing the tariff advantage available to Indian exporters with that of competing countries. He cited the textile sector, saying India had historically faced higher duties than competitors such as Bangladesh and Vietnam in several markets, but the situation had now changed in many developed markets.
Goyal said India had set a $1 trillion export target for the current year, representing about 16% growth. Exports during April-July reached approximately $317 billion, compared with around $280 billion during the corresponding period last year, an increase of about $36-37 billion.
He called for coordinated efforts by the government, line ministries, Export Promotion Councils and industry associations to help businesses identify and utilise FTA opportunities. He also urged EPCs and industry bodies to disseminate information in local languages and expand their outreach to smaller exporters.
The Minister highlighted the role of e-commerce in enabling MSMEs and first-time exporters to enter international markets and called for greater participation of businesses from different regions in international trade delegations.
Goyal also called for state-wise identification of products and clusters where FTA benefits are being utilised or remain underutilised. He proposed sector- and cluster-level workshops and facilitation mechanisms with points of contact at the district or state level to provide exporters with faster support.
He said India should continue working towards its long-term export and economic ambitions despite global challenges, including the COVID-19 pandemic and geopolitical conflicts. Goyal also urged exporters to maintain international quality standards and ensure that Indian products remain trusted globally.
The workshop brought together officials from the Central Government, States and Union Territories, Export Promotion Councils and industry associations to identify export opportunities and practical challenges in utilising FTA benefits.
