Goyal Meets Export Councils to Maximize Gains from India's New Trade Deals

In a social media post on Wednesday, the minister said he was delighted to meet representatives of various EPCs and industry associations.

He stated, "Delighted to meet representatives of various Export Promotion Councils (EPCs) & Industry Associations today. They conveyed their gratitude to PM@NarendraModiji for his decisive leadership in concluding multiple FTAs with major global economies in the last 6 years."

The meeting focused on exploring ways to maximise the benefits arising from multiple Free Trade Agreements (FTAs) concluded with major global economies over the last 6 years.

According to the minister, industry associations conveyed their gratitude to Prime Minister Narendra Modi. They said these agreements have unlocked massive avenues for India's industries, services sector, and exporters.

Goyal noted that the discussions were wide-ranging and centred on how Indian businesses can effectively leverage the opportunities created by the trade deals. The focus was on enhancing export competitiveness, expanding market access, and strengthening India's position in global trade.

He emphasised that the trade agreements have opened up new possibilities for growth across sectors and have created fresh opportunities for exporters to expand their footprint in international markets.

The meeting also highlighted the role of industry bodies and EPCs in ensuring that Indian businesses fully utilise the benefits of these agreements.

The minister further stated that the government remains firmly committed to supporting industry, boosting exports, and accelerating India's economic growth and development.

He reiterated that the collective effort of the government and industry stakeholders will play a key role in driving India's transformation into a "Viksit Bharat" by 2047.

In 2025, India significantly accelerated its trade diplomacy by signing several landmark agreements, starting with the India-UK Comprehensive Economic and Trade Agreement (CETA) on July 24, which opened up massive opportunities for Indian exports, like textiles and gems.

This was followed by the signing of the India-Oman Comprehensive Economic Partnership Agreement (CEPA) on December 18 and the official conclusion of the India-New Zealand FTA on December 22, both aimed at removing duty barriers and boosting bilateral investments.

Additionally, 2025 marked a milestone as the India-EFTA TEPA (involving Switzerland, Norway, Iceland, and Liechtenstein) officially entered into force on October 1, bringing with it a USD 100 billion investment commitment.

Moving into 2026, India achieved a historic breakthrough on January 27 by signing a comprehensive Free Trade Agreement with the European Union, a deal that provides Indian businesses with preferential access to one of the world's largest and most affluent consumer markets.

This was immediately followed by a strategic reset in the India-US trade relationship; on February 7, the two nations announced an Interim Trade Agreement that slashed effective US tariffs on Indian goods from a peak of 50 per cent down to 18 per cent.

- ANI