Fresh from finalizing a significant free trade agreement with the European Union, India is now focusing on broadening its trade agreements globally. India’s Chief Negotiator for the EU-India Free Trade Agreement, Darpan Jain, revealed that negotiations are in progress or planned with various major economies across North America, Latin America, Africa, and the Gulf. The objective is to enhance commercial ties in almost every major region worldwide.
Jain highlighted that India has already covered about half of global trade and economy through its trade agreements in the last five years. The country is now looking to expand its reach in regions where it has limited trade agreements. In North America, India is in talks for a free trade agreement with Canada and has initiated discussions with Mexico. Similarly, negotiations are ongoing with Chile and Peru in Latin America, with plans to enhance the existing Preferential Trade Agreement with the Mercosur bloc.
India is also focusing on strengthening trade relations in West Asia, with ongoing discussions with Qatar, the Gulf Cooperation Council, and other countries in the region. In Africa, negotiations are underway with the Southern African Customs Union and Kenya to boost economic engagement across the continent. Additionally, India has established trade agreements with key partners in East Asia, Oceania, and ASEAN member states.
The recent EU trade agreement, which connected economies representing nearly two billion people, is considered one of India’s most ambitious trade pacts. Jain emphasized that this agreement reflects a strong political commitment to expanding market access and enhancing India’s integration into global trade. The renewed emphasis on trade agreements aligns with India’s broader economic outlook, aiming to increase exports, improve competitiveness, and foster greater openness to imports.
Christophe Kiener, the EU’s chief negotiator, mentioned that the European Union is also pursuing a similar strategy, focusing on preferential trade coverage and completing agreements in the Indo-Pacific region. This includes negotiations with countries like Thailand, the Philippines, Malaysia, and the United Arab Emirates, to further strengthen trade relations.
