India is aiming to bring nearly 75% of global trade under its network of Free Trade Agreements (FTAs) and is currently engaged in negotiations with eight to nine more countries and country groups, Union Commerce and Industry Minister Piyush Goyal said on Monday.

Addressing Indian and Japanese business representatives in Japan, Goyal said the countries and groups currently under discussion represent a combined economy of around $15 trillion.

According to the minister, India has signed nine FTAs over the past four years, covering economies worth nearly $60 trillion, including 38 developed countries. Existing trade agreements with Japan, South Korea and the ASEAN region provide India with preferential market access to economies worth another $10 trillion.

With these agreements, India currently has preferential market access to economies worth around $70 trillion. Adding another $15 trillion through the ongoing FTA negotiations would take the coverage of India’s trade network closer to 75% of global trade, Goyal said.

Focus on Global Value Chains

Goyal said the expanding FTA network would help India integrate more deeply into global value chains and strengthen its position as a reliable trading partner.

He is currently visiting Japan with a delegation of more than 200 business representatives. Strengthening trade and investment ties between India and Japan is a key objective of the visit.

The minister highlighted India’s investment potential in emerging and high-technology sectors, including data centres, manufacturing and artificial intelligence.

Goyal also expressed confidence that growing economic engagement between India and Japan would help promote more balanced trade between the two countries.

The government is seeking to expand India’s access to major global markets through trade agreements while creating greater opportunities for Indian businesses, exports and investments.

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