India's 2026 Trade Blitz: EU Deal, US Pact & Global FTA Network Expands

Landmark agreement with the European Union, alongside other strengthened partnerships, are expanding market access, boosting exports, attracting investment, and creating new employment opportunities across sectors.

"Complemented by domestic policy, financial, and regulatory measures to strengthen exporter competitiveness, India's trade ecosystem is becoming more resilient and globally integrated," said the statement.

Notably, several major economies are currently engaged in active negotiations with India to deepen trade and investment ties through FTAs and comprehensive economic partnerships.

India reached a framework understanding with the United States in February for an Interim Agreement aimed at promoting reciprocal and mutually beneficial trade.

The framework reaffirms the countries' commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations, which will include additional market access commitments and support more resilient supply chains.

Moreover, India and Israel signed the Terms of Reference for a Free Trade Agreement (FTA) in November. Subsequently, the first round of FTA negotiations was concluded this month, establishing a structured framework for discussions on identified areas to enhance trade and economic cooperation.

"Discussions for the ASEAN-India Trade in Goods Agreement (AITIGA) is also underway, which holds potential to unleash the full economic potential of the member countries and further strengthen regional cooperation," said the statement.

Notably, India and Mexico meetings have been centred on strengthening bilateral trade and investment relations, with discussions focused on expanding trade, investment, expanding economic cooperation, fostering business collaborations, and exploring opportunities across diverse sectors.

With Canada, India continues discussions on a Comprehensive Economic Partnership Agreement, supported by agreed terms of reference.

The proposed agreement aims to raise bilateral trade to around $50 billion by 2030 through tariff reductions and clearer frameworks for services and investment.

According to the statement, the Terms of Reference (ToR) for the India-GCC Free Trade Agreement (FTA) were signed this month, followed by the signing of a Joint Statement formally launching negotiations for a comprehensive and mutually beneficial agreement.

The FTA will enable seamless flow of goods, and services and attract investments while expanding job opportunities and fostering food and energy security for the region, elevating deep economic ties.

- IANS