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India's Trade Triumph: Preferential Access to 2/3 of Global Commerce

Union Minister Piyush Goyal announced India now has preferential trade access covering nearly two-thirds of global commerce. He highlighted the success of recent FTAs, noting merchandise trade with Australia and the UAE has doubled post-agreement. Goyal outlined a four-point strategy focusing on MSMEs, quality standards, value chain movement, and corporate mentorship to accelerate exports. The announcement was made at the CII's National Exports Competitiveness Summit, which aimed to chart a path toward a $1 trillion export target.

Key Points: India Gains Preferential Trade Access to Two-Thirds of Global Trade

  • Preferential access to 2/3 of global trade
  • FTAs with UAE, Australia doubled trade
  • Active negotiations with GCC, Israel, Chile
  • Four-point strategy for $1 trillion exports
2 min read

India enjoys preferential trade access to nearly two-thirds of global trade, says Piyush Goyal

Commerce Minister Piyush Goyal announces India's preferential trade access covers nearly two-thirds of global commerce, highlighting new FTAs and a $1 trillion export roadmap.

"building bridges of trade, bridges of trust and bridges of transformation - Piyush Goyal"

Chennai, February 25

Union Commerce and Industry Minister Piyush Goyal on Tuesday said that India now enjoys preferential trade access to nearly two-thirds of global trade, underscoring the country's growing global economic integration.

He was addressing the valedictory session of the 5th National Exports Competitiveness Summit 2026, organised by the Confederation of Indian Industry (CII). The Minister participated in the programme via video conferencing, while the summit was held at a private star hotel in Chennai.

The summit, themed "Reform, Perform and Transform," brought together senior government officials, policymakers, diplomats, financial institutions and industry leaders to deliberate on India's roadmap towards achieving a USD 1 trillion export target.

In his address, he said that at a time when the world faces uncertainty, India is "building bridges of trade, bridges of trust and bridges of transformation." He highlighted that under the leadership of Prime Minister Narendra Modi, India has concluded a series of high-quality Free Trade Agreements (FTAs), marking a significant shift in the country's trade trajectory.

He noted that within a span of six hours on the same day, India had launched FTA negotiations with the Gulf Cooperation Council, was engaged in finalisation discussions with Israel, and was preparing to initiate negotiations with Chile.

The Minister further pointed out that merchandise trade with Australia and the UAE has doubled following the conclusion of their respective FTAs, demonstrating the benefits of deeper trade partnerships for Indian exporters.

Outlining a four-point strategy to accelerate export growth, Goyal called for wider dissemination of FTA benefits to MSMEs and local clusters, a renewed focus on world-class quality standards, movement up the value chain towards higher-value products, and stronger corporate mentorship to build district-level export ecosystems.

The summit concluded with a call for stronger collaboration between government and industry to position India as a leading global export hub.

- ANI

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Reader Comments

P
Priya S
Great to see proactive steps. But dissemination of FTA benefits to small businesses is the real challenge. Many small exporters in my city don't even know how to use these agreements. Government needs robust awareness campaigns in regional languages.
R
Rohit P
"Building bridges of trade, not walls" – love that sentiment! Negotiating with GCC, Israel, and Chile simultaneously shows our diplomatic and economic confidence. This is how we become a $5 trillion economy. Kudos to the team!
S
Sarah B
As someone working in the export sector, the emphasis on world-class quality standards is the most important point. We can't just rely on cheap goods anymore. The 'Transform' in the summit's theme is key.
V
Vikram M
Hope this isn't just big numbers for headlines. Need to see if it creates jobs in manufacturing and reduces our trade deficit. The district-level export ecosystem idea is good, but execution is everything. Let's see actual results.
K
Kavya N
This is positive! Especially the corporate mentorship part. Big companies should handhold small ones. My father's small engineering unit could really use that guidance to export. More power to 'Make in India' for the world!

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