Piyush Goyal says India negotiating FTAs with 8 to 9 more blocs, aims to cover 75% of global trade

India is currently engaging in negotiations with at least eight to nine additional groups of countries and individual nations, collectively representing $15 trillion in GDP, Commerce and Industry Minister Piyush Goyal stated on Monday (August 24, 2026). Goyal elaborated that India's free trade agreements (FTAs) would eventually encompass approximately 75% of global trade, positioning the nation as a dependable partner in global value chains.

Speaking in Tokyo while addressing business representatives from India and Japan, Goyal emphasized that India possesses a vast domestic market and has opened nine FTAs in the past four years, covering economies with a combined GDP of $60 trillion and 38 developed countries. These nine agreements supplement the $10 trillion in GDP already opened through earlier trade pacts with countries like Japan and Korea, as well as the ASEAN region.

Consequently, India is now granting preferential market access to USD 70 trillion in economies. Goyal noted that India is in discussions with at least eight or nine additional groups of countries or nations, which would add another $15 trillion to the covered GDP. The Minister's delegation, comprising over 200 business representatives, aims to strengthen trade and investment ties between India and Japan.

Goyal highlighted significant investment opportunities in India's data centers, manufacturing, and artificial intelligence sectors. He stressed the importance of fostering balanced trade between India and Japan as economic ties continue to deepen.