US Visit
India will become centre of global trading relationships web, says Minister Goyal
This story was originally published at 13:07 IST on 3 October 2026
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NEW DELHI – India will become the centre of the international web of global trading relationships with the signing of more free trade agreements, which are currently being negotiated, Commerce and Industry Minister Piyush Goyal said Saturday. With these pacts, India will have access to countries accounting for "nearly 75–80% of the world's economy," Goyal said at an event in Chicago, US.
India is currently negotiating around eight trade agreements, which will connect economies cumulating to $15 trillion of GDP with India, Goyal said while addressing the Indian diaspora. He expects these trade pacts will also support India to achieve the goal of becoming a $30 trillion economy by 2047, from the $4 trillion economy currently.
The trade agreements have opened a larger market for India, giving preferential or zero-duty access in 38 developed economies in over four years. "India will be able to be a part and contribute more value to the global value chain," Goyal said.
The minister is on a visit to the US from Sept. 29 to Oct. 5 to attend the G20 trade ministers' meeting. Goyal will also hold bilateral talks with his US counterpart to finalise the interim trade deal during the visit.
So far, India has signed free trade agreements with 38 developed countries, including the one recently signed with New Zealand and the UK, giving New Delhi preferential access to these economies. These trade agreements cumulatively account for $60 trillion, the minister said. End
US$1 = INR 96.32
Reported by Shweta
Edited by Deepshikha Bhardwaj
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