Union Commerce and Industry Minister Piyush Goyal has urged Indian industry to strategically leverage Free Trade Agreements (FTAs) to expand exports, particularly in developed markets, while emphasizing the need to maintain high quality standards.
Addressing industry stakeholders, Goyal highlighted that India’s recently concluded and ongoing FTAs with key global partners offer significant opportunities for exporters to access advanced economies with reduced tariffs and improved market entry conditions. He noted that developed markets present strong demand for high-value, quality-driven products across sectors.
The minister stressed that Indian manufacturers must align with global benchmarks in quality, sustainability, and compliance to fully capitalize on these agreements. “Competing in developed markets requires a strong focus on product standards and reliability,” he said, adding that quality will be a key differentiator for Indian goods.
Goyal also pointed out that sectors such as engineering goods, pharmaceuticals, textiles, and specialty chemicals stand to benefit the most from enhanced market access under FTAs. He encouraged businesses to invest in innovation, branding, and value addition to move up the export value chain.
The government, he said, is working to support exporters through trade facilitation measures, simplified compliance frameworks, and improved logistics infrastructure. Efforts are also underway to diversify export destinations and reduce dependence on a limited number of markets.
Industry representatives welcomed the government’s push, noting that FTAs could play a pivotal role in boosting India’s global trade footprint if complemented by continued reforms and capacity building.
Goyal reiterated that India is well-positioned to emerge as a reliable supply chain partner for developed economies, provided industry adapts quickly to evolving global requirements and leverages the full potential of trade agreements.
