India negotiating FTAs with 8-9 more blocs, aims to cover 75% of global trade

What Happened

In Tokyo, Union Minister Piyush Goyal stated that India is negotiating FTAs with at least eight to nine additional groups of countries or individual nations. He said these new agreements could collectively add access to economies worth about $15 trillion in GDP and that the objective is for India’s free trade agreements to cover roughly 75% of global trade. This comes after India has signed nine FTAs in the last four years, which together connect to economies with a combined GDP of about $60 trillion, plus the $10 trillion opened by earlier pacts with Japan, Korea and the ASEAN region. Goyal asserted that the present level of market access amounts to about $70 trillion of global GDP and that the expansion could position India as a trusted partner in global value chains. He also highlighted opportunities for investments in data centres, manufacturing and artificial intelligence, and noted the push for balanced trade with Japan.

Why It Matters

If realized, the plan would extend India’s preferential access to large portions of the global economy, potentially influencing supply chains and global trade flows. The emphasis on data centres, manufacturing and AI signals a focus on sectors seen as strategic for India’s economic growth and its role in regional and global value chains. The move also suggests a deepening strategic economic engagement with Japan and other partners as part of India’s broader trade diplomacy.

Background

India has signed nine FTAs in the past four years, covering economies with a combined GDP of about $60 trillion and 38 developed countries. Earlier pacts with Japan, Korea and the ASEAN region are said to have opened roughly $10 trillion of GDP. Overall, proponents argue that current agreements provide access to markets totaling around $70 trillion in GDP, with future rounds targeting a larger share of global trade.

Key Facts

• India is negotiating FTAs with 8-9 more groups of countries or individual nations.
• The additional groupings are said to account for about $15 trillion in GDP.
• Current FTAs cover economies with a combined GDP of about $60 trillion and involve 38 developed countries.
• Earlier pacts with Japan, Korea and ASEAN opened about $10 trillion of GDP.
• Combined, nine FTAs signed in the last four years plus earlier pacts amount to preferred access to roughly $70 trillion of global GDP.
• Investments opportunities identified include data centres, manufacturing and artificial intelligence.

What Happens Next

The timeline for concluding the new FTAs is not specified. Goyal indicated these negotiations are underway and part of a broader effort to deepen India’s integration into global value chains, with ongoing engagement visible in business forums and meetings with international partners such as Japan.