Goyal Urges Industry to Penetrate New Markets, Leverage FTAs for Growth

He urged exporters and industry bodies to take full advantage of the series of Free Trade Agreements (FTAs) signed with developed countries maximise job creation and boost exports of goods and services, according to an official statement.

During his meeting with 35 Export Promotion Councils (EPCs) and key industry associations, Goyal said the Prime Minister Narendra Modi government had signed FTAs with developed countries to help India's farmers, workers, professionals, artisans and MSMEs take advantage of the global market with preferential access.

With these trade agreements, India's traditional medicines and yoga will also get global opportunities, while the interest of India's agriculture and dairy sectors have been protected, said the minister.

"India has made its mark in international trade since the ancient era. Our trade deals will accelerate our Viksit Bharat mission and carry forward Prime Minister Narendra Modi's mantra of 'Vikas bhi, Virasat bhi'," Goyal noted.

According to an official statement, industry representatives conveyed their deep gratitude to the Prime Minister and the Minister of Commerce for the decisive leadership that enabled the successful conclusion of recent trade agreements with the United Kingdom, European Union and the US.

They expressed appreciation for the elimination of the additional 25 per cent tariff on Indian imports to the United States, as terminated through the United States Executive Order dated February 6 2026, which is expected to restore competitive market access for Indian exports.

The US is among India's largest export destinations and that the tariff relief provides significant stability and renewed competitiveness to Indian exporters, said the industry.

Discussions also highlighted the progress under the Export Promotion Mission (EPM), the government's flagship framework to support exporters.

Industry welcomed the Interventions already rolled out under the Mission, including enhanced access to trade finance through Interest Subvention Support for export credit loans, Collateral Guarantee for Export Credit extended to MSMEs and targeted market access support.

- IANS