India’s engagement with the global economy has reached unprecedented levels, with around 70 % of global gross domestic product (GDP) and nearly two-thirds of world trade now accessible to Indian businesses, Commerce and Industry Minister Piyush Goyal said on Friday.
Speaking at the launch of additional interventions under the government’s Export Promotion Mission (EPM), Goyal said the expansion of trade ties through multiple free trade agreements (FTAs) has significantly broadened India’s economic footprint. He highlighted that India has concluded nine trade pacts that provide preferential access in 38 developed and emerging markets, bolstering opportunities for exporters across sectors.
“Today, India is engaging with major global economies from a position of strength,” Goyal noted, adding that the government’s efforts aim to protect sensitive domestic sectors while opening up new avenues where India holds competitive advantages.
The minister pointed to recent policy reforms and diplomatic initiatives that have streamlined compliance, improved ease of doing business, and accelerated partnerships in goods, services, and investment. He also linked the country’s successful hosting of the G20 Summit to India’s rising stature on the world stage.
As part of the broader integration strategy, Goyal emphasized that the benefits of global trade must reach micro, small and medium enterprises (MSMEs), startups, farmers, and fishermen. The expanded Export Promotion Mission — which includes financial support measures and logistics enhancements — is intended to help Indian businesses compete more effectively in global markets.
Economists say that access to such a broad swath of global economic activity positions India to both attract foreign investment and diversify its export base, especially as global supply chains restructure amid ongoing geopolitical and economic shifts.