India expands FTA network to 75% trade

India's Commerce and Industry Minister Piyush Goyal announced in Tokyo that India is negotiating free trade agreements (FTAs) with at least 8-9 more groups of countries and individual nations, which together account for an additional USD 15 trillion of GDP. Goyal stated that India's FTAs would eventually cover about 75% of global trade, positioning India as a trusted partner in global value chains. India has already signed nine FTAs in the last four years, covering economies with a combined GDP of USD 60 trillion and 38 developed countries. Earlier trade pacts with Japan, South Korea, and the ASEAN region have opened access to another USD 10 trillion of GDP, bringing total preferential market access to USD 70 trillion. Goyal is leading a business delegation of over 200 representatives to Japan to boost trade and investment ties, highlighting opportunities in data centers, manufacturing, and artificial intelligence. He also emphasized the goal of balanced trade between India and Japan.