India is aggressively negotiating free trade agreements (FTAs) with several major economies, including the European Union, the United States, Chile, and Peru. Speaking at the Entrepreneur and Traders Leadership Summit, Goyal emphasised that negotiations are proceeding quickly, with Indian officials coordinating across time zones to ensure that discussions progress without pause. 

He noted that dialogues begin early with Australia and Japan, extend into the afternoon with Europe, and continue in the evening with the US, Chile, and Peru, reflecting India’s worldwide commercial outreach.

The minister stated that India has previously signed trade agreements with the UAE, Mauritius, Australia, the European Free Trade Association, and the UK. He emphasised that conversations are also taking place with Oman, New Zealand, and other countries willing to engage with India. Presenting India as a global growth engine, Goyal stated that the country accounts for 16% of global growth while maintaining low inflation among emerging economies.

A significant emphasis remains on the bilateral trade agreement with the United States, which has been under discussion since March. While five rounds have already been completed, the sixth has been delayed as Washington prepares to impose a 50% tariff on Indian exports, up from 25%.