Government Prepares to Ensure Full Benefits of FTA; Special Plan to be Formulated for Businesses..

The Government of India no longer wishes to confine the benefits of Free Trade Agreements (FTAs) merely to paper. The government is formulating a strategy designed to enable Indian companies to maximize the advantages offered by these agreements, thereby accelerating both exports and domestic manufacturing.

**Agreements Concluded with Several Major Nations**
Since 2021, India has entered into FTAs ​​with various nations, including Mauritius, Australia, the UAE, Oman, New Zealand, the EFTA countries, the European Union (EU), the UK, and the USA. The aggregate import volume of these 38 nations stands at approximately $12 trillion, thereby opening up a vast market for Indian businesses.

**Sectors Benefiting the Most**
These agreements are yielding significant benefits, particularly for the agriculture, textiles, gems and jewelry, leather, engineering, electronics, chemicals, and pharmaceuticals sectors. Numerous products within these sectors are now enjoying duty-free access to partner nations.

**Continuous Consultations with the Business Community**
Commerce and Industry Minister Piyush Goyal is holding continuous consultations with industry associations, business leaders, and Export Promotion Councils. His primary focus is to ensure that companies effectively leverage these FTAs ​​to not only boost exports but also to strengthen domestic manufacturing capabilities within India.

**Special Emphasis on Agriculture and Fisheries Products**
On May 4, the government conducted a comprehensive review of the progress made regarding its FTA initiatives. This was followed by another meeting on May 7, during which a roadmap was formulated to facilitate the market access of Indian agricultural and fisheries products across global markets. The government aims to ensure that Indian agricultural and food products reach the widest possible range of nations.

**Indian Missions Abroad Entrusted with Key Responsibilities**
The Ministry of Commerce has also enlisted the support of Indian diplomatic missions stationed abroad in this endeavor. Their mandate includes raising awareness about FTAs ​​in their respective host nations, identifying new business opportunities, and expeditiously resolving non-tariff barriers that may hinder trade. Furthermore, various government ministries have been assigned the responsibility of ensuring adequate production volumes and guaranteeing that Indian products meet global quality standards. 

**The Ambitious Goal of $2 Trillion in Exports**
The government aims to boost India's exports of goods and services to $2 trillion in the coming years. This target is split equally, aiming for $1 trillion each in goods and services exports. Despite global economic challenges, India's total exports of goods and services grew by 4.6% in 2025-26, reaching a record high of $863.11 billion.

**Not Just Tax Relief, But a Major Business Opportunity**
Shishir Priyadarshi—President of the CRF and former Director at the WTO—asserts that Indian companies should not view FTAs ​​merely as agreements designed to reduce taxes. According to him, these agreements present a significant opportunity for India to secure a strong foothold in global supply chains, expand access to new markets, and bolster its global competitiveness through high-value products.

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