Commerce and Industry Minister Piyush Goyal recently announced that India is currently negotiating Free Trade Agreements (FTAs) with several key international partners. These negotiations are underway with major economies and blocs, including the US, the European Union (EU), New Zealand, Oman, Peru, and Chile, among others. The minister made this disclosure during the CII Partnership Summit 2025 in Visakhapatnam, stating, “We are currently negotiating with the EU, US, Oman, New Zealand, Chile, Peru, and many more wanting to start negotiations.”
A central element of this push is the minister’s call to lower trade barriers. This step is aimed at significantly boosting two-way investments and fostering an open, transparent environment that facilitates the free flow of goods, services, and capital. By actively pursuing these agreements, the government intends to create stable and predictable rules for businesses, encouraging growth and integration into global value chains. This commitment to an open economy builds upon India’s existing trade relationships, as the nation has already implemented FTAs with the UAE, Australia, and the four-nation European bloc EFTA.
Minister Goyal characterized the current geopolitical and economic situation as an “inflection point in global history,” where the established world order is being redefined amidst “tremendously volatile and uncertain, challenging times.” This context makes the push for new, modern trade agreements vital for India’s economic security and future growth. Internally, the government is also focused on improving the ease of doing business. To this end, the Centre has taken significant steps, including the removal of approximately 42,000 compliances and the abolition of 1,500 laws, demonstrating a commitment to streamlining regulations for both domestic and international investors.
