India’s expanding footprint in global trade received strong emphasis as the India-EU Free Trade Pact was highlighted as a transformative opportunity for the country’s economic future. Speaking at the World Forum of Accountants in Greater Noida, Union Commerce & Industry Minister Mr. Piyush Goyal outlined how India’s growing network of free trade agreements is reshaping its engagement with the global economy. According to the Minister, the India-European Union Free Trade Agreement (FTA) alone represents nearly one-third of the world’s population and about 25% of global GDP, underlining the scale and strategic importance of the pact.

This announcement has emerged as a major highlight in India EU Free Trade Pact News, signalling India’s ambition to integrate more deeply into global markets. The agreement is expected to significantly enhance export opportunities, attract investment, and position Indian businesses as key participants in global value chains.

India-EU FTA as a game changer for global trade integration

The India EU FTA latest News underscores the magnitude of the agreement in terms of both market access and economic impact. Covering such a large share of the global population and GDP, the pact opens doors for Indian exporters across a wide range of sectors including manufacturing, services, agriculture, technology, and green industries.

The European Union is one of the world’s largest and most sophisticated markets. Improved access through the FTA is expected to help Indian companies scale up operations, improve quality standards, and enhance competitiveness. At the same time, European firms are likely to benefit from India’s vast consumer base, skilled workforce, and growing digital and manufacturing capabilities.

Expanding network of free trade agreements

Mr. Piyush Goyal highlighted that India has signed eight free trade agreements in the past four years, marking a decisive shift in trade policy. These agreements include partnerships with the EU, UK, EFTA group of countries, Australia, New Zealand, UAE, and Oman. Together, they are designed to integrate Indian businesses into global value chains and reduce barriers to trade and investment.

This expanding network reflects India’s proactive approach to securing market access amid a rapidly changing global trade environment. By diversifying trade partners, India aims to reduce dependence on any single region while maximising export opportunities across continents.

Strategic importance of upcoming FTAs

The Minister also noted the strategic importance of upcoming agreements, particularly the proposed FTA with Chile. This agreement is expected to enhance India’s access to critical minerals, which are essential for industries such as renewable energy, electric mobility, electronics, and advanced manufacturing.

Securing reliable supplies of critical minerals is increasingly important for India’s long-term industrial and energy security. The Chile FTA is therefore seen as a key step in strengthening supply chains and supporting India’s transition towards a more sustainable and technology-driven economy.

EFTA agreement brings massive investment potential

Among the recently concluded agreements, the pact with the EFTA group of countries stands out for its significant investment commitments. The agreement includes a pledge of US$ 100 billion in foreign direct investment into India. According to the Minister, this investment has the potential to generate nearly 50 lakh jobs, making it a major boost for employment and economic growth.

Such large-scale FDI inflows are expected to support infrastructure development, manufacturing expansion, technology transfer, and skill development. This reinforces the role of FDI inflows India trade deals play in strengthening the domestic economy and enhancing global competitiveness.

New Zealand’s growing investment commitment

Another notable highlight was New Zealand’s commitment to invest US$ 20 billion in India over the next 15 years. This represents a dramatic increase from its earlier investment level of just US$ 70 million. The sharp rise in commitment reflects growing confidence in India’s economic prospects and policy stability.

This investment is expected to support collaboration across sectors such as agriculture, education, renewable energy, and technology. It also signals how India’s free trade agreements are translating into tangible long-term partnerships rather than just tariff reductions.

Strengthening India’s export opportunities

The combined impact of these agreements is expected to significantly boost India export opportunities. By lowering trade barriers and harmonising standards, FTAs help Indian exporters access new markets more efficiently. This is particularly important for small and medium enterprises, which can leverage global demand to scale up operations.

Mr. Goyal emphasised that India’s strong export performance, supported by policy reforms and trade agreements, is a key pillar of economic growth. As global demand shifts and supply chains diversify, India is well-positioned to emerge as a preferred manufacturing and services hub.

Role of chartered accountants in global integration

Addressing the audience at the World Forum of Accountants, the Minister highlighted the crucial role played by India’s 5.25 lakh chartered accountants. He noted that professionals in this field contribute significantly to professionalism, investor confidence, and global partnerships.

Chartered accountants play a vital role in ensuring transparency, compliance, and financial integrity, which are essential for attracting foreign investment and building trust with international partners. Their expertise supports Indian companies as they navigate complex global regulations and expand overseas.

Strong macroeconomic fundamentals support growth

The Minister pointed out that India’s expanding global engagement is backed by strong macroeconomic fundamentals. These include robust foreign exchange reserves, resilient domestic demand, and consistent export growth. Together, these factors provide stability and confidence to investors and trading partners.

With these strengths, India is well on track to become the third-largest economy in the world in the coming years. The integration into global trade networks through FTAs is expected to accelerate this trajectory by unlocking new sources of growth and investment.

Vision for a developed India by 2047

Looking ahead, Mr. Goyal reiterated India’s long-term vision of becoming a developed and prosperous nation by 2047, with an economy valued at US$ 30 trillion. Achieving this goal will require sustained growth, global exposure, and continuous upskilling of the workforce.

Chartered accountants, along with other professionals, are expected to play a central role in this journey by enhancing governance standards, supporting innovation, and facilitating global partnerships. Their contribution will be critical in translating trade agreements and investments into real economic outcomes.

Impact on global value chains

The India EU Free Trade Pact and other agreements are expected to deepen India’s integration into global value chains. This integration allows Indian firms to participate in international production networks, access advanced technologies, and improve productivity.

As global companies look to diversify supply chains, India’s trade agreements make it an attractive destination for investment and collaboration. This trend is likely to strengthen India’s position as a reliable and competitive global partner.

Conclusion

In conclusion, the India-EU Free Trade Pact covers one-third of the world population and impacts 25% of global GDP, marking a historic opportunity for India’s commerce and trade. Alongside multiple other FTAs, it positions India at the centre of global economic activity, unlocking export growth, investment inflows, and job creation.

Supported by strong macroeconomic fundamentals and professional expertise, India is well-placed to leverage these agreements to achieve its long-term development goals. As the country moves towards becoming a US$ 30 trillion economy by 2047, its expanding global trade network will remain a cornerstone of sustainable and inclusive growth.

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