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Govt preparing granular plans to enhance utilization of FTAs by Indian industries: Goyal
May-13-2026

Union Minister Piyush Goyal has said that the commerce ministry is preparing granular plans to enhance the utilization of free trade agreements (FTAs) by Indian industries. The plans include sending 500 delegations abroad, training 1,000 personnel, and engaging with 1,600 industry chambers. He urged the Indian industry to increase utilisation of FTAs as it will help boost exports and attract investments amidst global economic challenges. 

The minister said since 2021, India has finalised trade deals with Mauritius, the UAE, Australia, Oman, New Zealand, EFTA bloc, UK and the EU. He said that developed economies like the United States (US), Switzerland, and European Union (EU) nations possess higher per capita incomes but these economies cannot make goods at costs lower than India. He noted that while these economies possess strong technological and industrial capabilities, India has the advantage of competitive manufacturing and talent, which can help the country leverage these large markets more effectively.

Talking about the country's ambitious roadmap to achieve $2 trillion in exports of goods and services over the next 5 to 6 years, he said the government will work closely with the industry on this. He said the target is achievable with annual export growth of around 15 per cent, and expressed confidence that sectors, including automobiles, steel and startups, have the potential to drive this growth through innovation, competitiveness and expansion into global markets. 


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