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Piyush Goyal Urges Exporters to Leverage FTAs for Global Growth

Commerce Minister Piyush Goyal held a productive meeting with Export Promotion Council heads to discuss sector-specific priorities and boost Indian exports. He emphasized leveraging recent FTAs, including the India-New Zealand deal, to widen market access. The India-New Zealand FTA, concluded in nine months, aims to scale bilateral trade to $5 billion. New Zealand has also committed to investing $20 billion in India over 15 years.

Key Points: Piyush Goyal on FTAs: Boosting Indian Exports

  • Piyush Goyal interacts with Export Promotion Councils
  • Focus on leveraging FTAs for wider market access
  • India-New Zealand FTA aims to boost trade to $5 billion
  • New Zealand to invest $20 billion in India over 15 years
2 min read

Piyush Goyal explores avenues for exporters to leverage various FTAs

Commerce Minister Piyush Goyal discusses with Export Promotion Councils how to leverage FTAs, including India-New Zealand, to boost exports and unlock global opportunities.

"Explored avenues for exporters to leverage the various FTAs India has concluded in the recent past to widen market access and boost exports - Piyush Goyal"

New Delhi, April 27

Commerce and Industry Minister Piyush Goyal on Monday held a productive interaction with heads of various Export Promotion Councils here.

"Discussed sector-specific priorities and heard their constructive feedback on enabling more Indian businesses to export and unlock opportunities in the global trade landscape," said the minister on social media platform X.

"Also, explored avenues for exporters to leverage the various FTAs India has concluded in the recent past to widen market access and boost exports," he added.

Earlier, Goyal said that he was looking forward to unlocking the full potential of the India-New Zealand FTA to create new opportunities for businesses in both countries, strengthen value chains, and further deepen the bilateral economic partnership.

Addressing the India-New Zealand Business Forum here along with his New Zealand counterpart, Todd McClay, the minister highlighted how India's vast market, skilled talent, digital capabilities, and manufacturing strengths complement New Zealand's expertise in agri-tech, clean energy, and fintech.

"The strong participation and ideas shared by business leaders from both sides highlighted the vast potential for deeper trade, investment, and innovation-led collaboration among our nations," Goyal said.

Concluded in a record nine months, the FTA marks a significant milestone in strengthening bilateral ties. With current trade estimated at $1.3 billion in goods and $634 million in services, both countries aim to scale this to $5 billion over the next five years. A strong Indian diaspora of nearly 300,000 people in New Zealand continues to serve as a vital bridge in this partnership.

In a global environment marked by trade uncertainties and shifting supply chains, this agreement underscores India's strategic diversification across the Indo-Pacific and its commitment to building resilient, inclusive, and future-ready economic partnerships, according to an industry body.

The FTA also includes a provision wherein New Zealand will invest $20 billion in India over 15 years. This is in the same vein as the $100 billion investment 'commitment' the European Free Trade Association made in their FTA with India.

- IANS

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Reader Comments

P
Priya S
Finally some positive news on the trade front! India-New Zealand FTA looks promising with that $20 billion investment over 15 years. Our diaspora there will definitely help bridge the gap. Hope our farmers also get fair access to their market.
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Michael C
Interesting to see India pushing FTAs aggressively. The $5 billion target from $1.3 billion seems ambitious. Let's see how the global supply chain shifts play out. The Indo-Pacific focus is smart strategy.
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Rohit P
Good to see engagement with Export Promotion Councils. But my concern is: how many of these FTAs actually translate to ground-level benefits for MSMEs? Paper agreements are fine, but our exporters need practical help with customs, logistics, and compliance. Hope the minister addressed those issues too.
D
Deepak U
The $20 billion investment commitment from NZ is a big deal. Reminds me of the EFTA pact. But let's be real - we need to simplify our export procedures and reduce red tape first. Even the best FTA won't help if our exporters are stuck in paperwork. Hope the government focuses on ease of doing business alongside these agreements. 🙏

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