India is set to take a major step forward in its global trade strategy, with as many as nine Free Trade Agreements (FTAs) signed over the past three years expected to become operational within the next ten months. The development is expected to enhance market access for Indian exporters, strengthen manufacturing competitiveness, and deepen the country’s integration with global supply chains.

Speaking at the Citi 2026 India Conference in Mumbai, Union Commerce and Industry Minister Piyush Goyal said the government is actively working to operationalise recently concluded trade agreements and is simultaneously pursuing several new trade partnerships with key global economies.

Multiple FTAs Expected to Come Into Force Soon

According to Goyal, at least two to three major trade agreements are likely to become effective within the next six months. He noted that the nine FTAs signed in recent years involve developed economies that complement India’s economic strengths and provide significant opportunities for trade expansion, investment, and technology collaboration.

The minister said these agreements form an important part of India’s long-term strategy to strengthen its presence in international markets while creating new opportunities for domestic industries.

India-Oman CEPA Marks New Phase of Trade Cooperation

A key milestone in this effort is the implementation of the India-Oman Comprehensive Economic Partnership Agreement (CEPA), which came into effect on June 1, 2026.

The agreement is expected to improve bilateral trade, provide Indian exporters with preferential access to the Omani market, and encourage greater investment and supply-chain cooperation between the two countries. It is also expected to facilitate increased imports of petrochemicals and fertilisers from Oman.

Boost for Manufacturing and Exports

Government officials believe the expanding network of FTAs will support India’s ambition of becoming a global manufacturing hub. Reduced tariffs and improved market access are expected to benefit sectors such as textiles, engineering goods, automobile components, leather products, marine exports, agriculture, chemicals, and technology services.

The agreements are also expected to encourage foreign direct investment, strengthen export-oriented industries, and create employment opportunities across multiple sectors.

More Trade Agreements Under Discussion

In addition to the agreements nearing implementation, India is continuing negotiations and discussions with several strategic partners. Progress has been reported on trade engagements with the United Kingdom, European economies, Chile, and other countries seeking deeper economic cooperation with India.

The government is also focusing on trade partnerships that support critical minerals, advanced manufacturing, technology collaboration, and resilient supply chains.

India Emerging as a Preferred Manufacturing Destination

Highlighting India’s growing attractiveness for global businesses, Goyal said multinational companies increasingly view the country as a reliable manufacturing and investment destination.

Also Read | India-UAE CEPA Boosts Trade Beyond $100 Billion, Creates New Opportunities: Piyush Goyal

He attributed this confidence to India’s large domestic market, skilled workforce, expanding infrastructure, rapid technology adoption, and stable policy environment. As global companies diversify supply chains and seek alternative production hubs, India is positioning itself as a trusted partner in global commerce.

Strengthening India’s Global Economic Presence

With multiple trade agreements nearing operationalisation and new negotiations underway, India is accelerating efforts to expand its global economic footprint. Policymakers believe the growing FTA network will play a crucial role in boosting exports, attracting investments, strengthening manufacturing capabilities, and supporting the country’s long-term growth ambitions.

The government expects these agreements to contribute significantly to India’s vision of becoming a leading global trading nation while advancing its broader economic development goals.

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