India Expands Global Trade Push After Historic EU Free Trade Agreement
New Delhi/Washington: Riding on the momentum of its landmark Free Trade Agreement (FTA) with the European Union, India is accelerating efforts to build one of the world’s most extensive trade networks, with negotiations spanning North America, Latin America, Africa, the Gulf, and the Indo-Pacific.
India Accelerates Global Free Trade Agreements After Landmark EU Deal.
Speaking at an event hosted by the Peterson Institute for International Economics in Washington, Darpan Jain, India’s Chief Negotiator for the India-EU Free Trade Agreement, outlined New Delhi’s ambitious roadmap to strengthen economic partnerships across major global markets.
“Broadly, our intent is to cover the entire world. Our hands are full, the table is full, and our mind space is full as we work to diversify our relationships, expand partnerships and enhance trade,” Jain said.
India Eyes Wider Global Market Access
According to Jain, India has already negotiated trade agreements covering nearly 50 per cent of global trade and half of the world’s economy over the past five years. The government’s focus is now shifting towards regions where India’s trade footprint remains relatively modest.
North America and Latin America in Focus
India has resumed negotiations for a Free Trade Agreement with Canada and has initiated discussions with Mexico. In Latin America, negotiations are progressing with Chile and Peru, while talks are underway to expand the existing Preferential Trade Agreement with the Mercosur bloc, which includes Brazil, Argentina, Paraguay and Uruguay.
Jain said strengthening India’s commercial presence in Latin America remains a strategic priority.
Stronger Engagement with the Gulf
India is also deepening its economic engagement with West Asia. Following successful trade agreements with the United Arab Emirates and Oman, discussions are progressing with Qatar, the Gulf Cooperation Council (GCC) and other regional economies to broaden trade cooperation.
Africa Emerges as a Strategic Priority
Africa has become another important pillar of India’s trade strategy. Negotiations are currently underway with the Southern African Customs Union (SACU) and Kenya, aimed at boosting bilateral trade, investment and supply chain partnerships across the continent.
Expanding the Indo-Pacific Network
Jain noted that India already enjoys comprehensive trade agreements with major Asian economies, including Japan, South Korea, Singapore, and members of the ASEAN grouping. More recently, India concluded trade agreements with Australia and New Zealand, further strengthening its presence in the Indo-Pacific region.
Landmark India-EU FTA Marks New Era
The renewed trade push comes after India and the European Union successfully concluded one of the world’s largest bilateral trade agreements, connecting markets representing nearly two billion people.
Describing the pact as one of India’s most ambitious trade agreements, Jain said it reflects the government’s commitment to expanding market access for Indian businesses while improving global competitiveness.
“There is a strong political commitment to expand India’s trade relationship with other countries, increase market access and reduce the disadvantages faced by Indian exporters,” he said.
Jain added that India’s trade policy is undergoing a significant transformation, embracing greater openness to imports while simultaneously promoting exports and enhancing the competitiveness of domestic industries.
EU Pursues Similar Strategy
Echoing India’s approach, Christophe Kiener, the European Union’s chief trade negotiator, said the EU already has preferential trade arrangements covering around 50 per cent of its global trade and is now focusing on completing agreements with countries in the Indo-Pacific, including Thailand, the Philippines, Malaysia, and the United Arab Emirates.
The expanding network of trade agreements is expected to enhance global supply chain integration, boost exports, attract foreign investment and reinforce India’s position as a key player in international commerce. www.forevernews.in – News that Matters.
