India Seeks Global Trade Deals to Boost Growth, Says Goyal

Union Minister of Industries and Commerce Piyush Goyal said on Friday that India is actively negotiating Free Trade Agreements (FTAs) with the European Union, the U.S., Oman, New Zealand, Chile, Peru, and several other countries to facilitate the smooth flow of capital, goods, and services.

Addressing the inaugural session of the 30th CII Partnership Summit 2025, Mr. Goyal noted that these agreements come at a time of global economic uncertainty and volatility, emphasizing the need for Indian industries to remain resilient and competitive. He added, “These agreements are designed to benefit not just India, but all of humanity.”

Describing India as an oasis amid global turbulence, he highlighted the trust several nations place in the country. “I am in constant discussions with counterparts and trade representatives from many countries, leaving little bandwidth for anything else,” he said, underlining India’s growing influence in international trade.

Mr. Goyal stressed that embracing technology is essential for sustained prosperity and that ethical governance must underpin global trust. He pointed to India’s initiatives, including digital public infrastructure, expanding renewable energy capacity, and other strategic projects, as steps toward making India the world’s third-largest economy.

He also reiterated that Ease of Doing Business (EoDB) remains a top priority, highlighting the repeal of over 50 outdated laws and the removal of 42,000 compliance requirements to simplify operations for businesses. Concluding his address, Mr. Goyal urged nations to lower trade barriers, collaborate on technological advancements, and ensure that innovations reach a wider population.