India Advancing Global Trade Relations: Minister Goyal Announces Negotiations with US, EU and Other Nations

Commerce and Industry Minister Piyush Goyal announced on Friday that India is currently engaged in free trade agreement (FTA) negotiations with multiple countries including the United States, European Union, New Zealand, Oman, Peru, and Chile.

Speaking at the CII Partnership Summit 2025 in Visakhapatnam, Goyal expressed that reducing global trade barriers would facilitate the seamless flow of goods, services, and capital across borders.

The minister also offered that the India Trade Promotion Organisation (ITPO) would be willing to collaborate with Andhra Pradesh's government to develop a world-class convention facility—dubbed "Andhra Mandapam"—similar to the Bharat Mandapam in New Delhi.

India has already successfully implemented free trade agreements with several nations, including the UAE, Australia, and the four-nation European Free Trade Association (EFTA).

"We are currently negotiating with the EU, US, Oman, New Zealand, Chile and Peru, and many more want us to start negotiations," Goyal stated during the summit.

To enhance business operations in India, Goyal highlighted that the central government has eliminated approximately 42,000 compliance requirements and abolished 1,500 laws to promote ease of doing business.

Later in the event, Andhra Pradesh Chief Minister N Chandrababu Naidu committed to providing land for constructing the proposed world-class convention center.

Goyal outlined several recommendations for expanding global cooperation, including promoting bilateral investment by reducing trade barriers and creating an open, transparent environment conducive to the free movement of goods, services, and capital.

Additional suggestions encompassed technology cooperation and establishing predictable policy frameworks to foster long-term partnerships—recommendations particularly relevant amid rising global protectionism.

The minister emphasized that India's trust-based diplomatic approach is evident in its growing network of Free Trade Agreements.

During the event, Goyal and Chief Minister Naidu virtually laid the foundation stone for Drone City and Space City in Andhra Pradesh.

Goyal stressed the importance of India becoming self-reliant in producing high-quality drones, noting that the upcoming Drone City in Kurnool would contribute significantly toward achieving this objective.