Union Minister of Commerce & Industry, Piyush Goyal, shared details of a virtual meeting with UK Secretary of State for Business and Trade, Peter Kyle, aimed at strengthening trade and investment relations. They focused on maximizing the benefits of the India-UK Comprehensive Economic and Trade Agreement (CETA). Goyal had previously stressed the importance of a fair and responsive World Trade Organization that caters to the needs of all members, especially developing and Least Developed Countries (LDCs).
India has been actively engaging in free trade agreements (FTAs) with countries where trade links are expanding and supply chains are developing. A recent report highlighted that these FTAs are boosting the existing economic growth and proving resilient in the current global trade scenario. The report noted a significant 92% growth in India’s trade with strategic FTA partners between fiscal year 2020-21 and FY 2024-25, surpassing the 41.5% increase in India’s overall merchandise trade with other nations.
Over the years, India has broadened its FTA network, establishing nine FTAs with 38 countries. The country’s FTA journey began with India-Mauritius in 2021, followed by the India-UAE Comprehensive Economic Partnership Agreement in May 2022 and the India-Australia Economic and Trade Agreement in December 2022. Subsequently, India signed the EFTA TEPA on March 10, 2024, which came into effect on October 1, 2025. Other agreements include the India-UK CETA signed in July 2025 and the India-Oman CEPA in December 2025. The India-New Zealand FTA was announced on December 22, 2025, and the India-EU FTA on January 27, 2026.
