India to bring at least 2-3 more FTAs into force over next six months: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has said that India will bring at least two to three more substantive free trade agreements (FTAs) into force over the next six months, while another 3-4 such pacts are to be implemented in 2027. He noted that the FTA between India and Oman came into force on June 1, 2026.
He said India has concluded nine FTAs in the past three-and-a-half years, covering key partners such as the UAE, Australia, Mauritius, Oman, the EFTA bloc, the UK, New Zealand, the European Union and the United States. He said agreements with Mauritius, the UAE, Australia, Oman and the EFTA bloc have already been implemented, while separate trade deals with the UK and New Zealand have been signed and are moving towards operationalisation. He also urged industry to invest long-term capital as the early capital will obviously get the best of returns.
Talking about India's response to recent global challenges, the Minister said the country successfully navigated the international energy crisis despite concerns arising from the ongoing West Asia crisis and disruptions affecting energy supplies from the Gulf region. He noted that India's prior efforts to diversify energy sources ensured uninterrupted availability of petrol, diesel, aviation fuel, LNG and LPG while maintaining relatively moderate prices. He added that fertilizer prices for farmers have remained unchanged despite global price increases, with the burden being absorbed by the Central Government.
