Commerce and Industry Minister Piyush Goyal reaffirmed that India’s free trade agreements (FTAs) will never come at the cost of national interest and assured that every trade deal will be structured to protect Indian traders and manufacturers. Speaking at the FTII Traders Conclave in Srinagar, he said the government is committed to reciprocal and balanced trade deals that safeguard sensitive sectors and regional priorities.
Goyal explained that FTAs are instruments to provide Indian goods with duty-free access to international markets and to eliminate barriers that restrict Indian exporters. However, he added that all FTAs are inherently two-way arrangements and cannot be limited to market access for only one side. He emphasised that each agreement is carefully negotiated to ensure that India’s interests are fully protected.
Referring to the ongoing India-US trade talks ahead of the July 9 deadline for the reimposition of 26 percent tariffs on Indian exports, Goyal said India will not enter into any agreement that compromises long-term competitiveness or domestic economic resilience. He stressed that while India is open to expanding trade horizons, it will do so only on terms that align with national priorities.
The minister assured traders from Jammu and Kashmir that their concerns would be accounted for in all international negotiations. He declared that no aspect of an FTA will ignore regional sensitivities or local economic structures, and asked traders not to worry about any negative impact from upcoming agreements.
Goyal also reiterated the Centre’s emphasis on building India’s export capacity through domestic empowerment. He stated that the government continues to promote the ‘Vocal for Local’ campaign and aims to ensure that locally manufactured products reach global markets. Describing the national approach as both ‘Make in India’ and ‘Make for the World’, he said that FTAs should be seen as complementary to India’s strategy of self-reliance and export-led growth.
He further noted that India does not enter into trade deals based on deadlines or external pressures but on a firm evaluation of mutual benefit. The minister highlighted that India’s participation in multilateral trade frameworks, including its recent communication to the World Trade Organisation regarding retaliatory duties against the US, reflects a balanced and assertive trade policy grounded in national interest.
