India?s signed trade agreements now cover economies with a combined GDP of roughly $70 trillion, says Commerce Minister Piyush Goyal

Commerce Minister Piyush Goyal has said that India has signed preferential trade agreements with 38 developed nations over the past four years. Mr Goyal said India is aiming to expand market access for Indian businesses while opening the country?s markets to global partners. He noted that India?s trade agreements covered economies with a combined GDP of around 10 trillion dollars before 2014, which has now risen to approximately 70 trillion dollars. Mr Goyal added that India is negotiating trade agreements with Canada, Mexico, Mercosur, Eurasia and several other countries. Mr Goyal stressed that India is looking for trusted partnerships.

On India-US relations, Mr Goyal said that the relationship between the two countries is highly consequential and will only grow stronger irrespective of changes in political thinking. He said India and the US continue to maintain close relations and cooperate on several fronts, including defence exercises and efforts to ensure open supply chains for technology, goods and services. The Minister added that the relationship is driven by economic, political and security imperatives and will continue to strengthen.

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