'India finalises eight free trade agreements covering 37 developed countries'

India has finalised eight free trade agreements FTAs covering 37 developed countries in the last few years Commerce and Industry Minister Piyush Goyal has saidHe also said that India is in active dialogue for similar pacts with several countries including Chile Peru and Canada Trade negotiations with Chile he said are almost at conclusion where India has interests in critical mineralsWeve done eight free trade agreements covering 37 developed countries in the last few years under the Modigovernment the minister told PTI Since 2014 India has finalised eight trade pacts Mauritius April 2021 implemented Australia December 2022 implemented UAE May 2022 implemented Oman signed in December 2025 UK signed in July 2025 EFTA implemented in October 2025 Switzerland Iceland Liechtenstein Norway New Zealand talks concluded in December 2025 and the European Union 27nation blocGoyal added that talks for a trade pact have started with the Mercosur group of countries to expand the existing PTA preferential trade agreementThe Mercosur trade bloc members are Argentina Brazil Paraguay and UruguayThe GCC Gulf Cooperation Council a group of six nations from the Middle Eastern region too has expressed a desire to start and launch negotiations for an FTA with India theminister said We have finalized terms of reference with them he said adding that Canada and India are actively talking for a pactWere going to quickly start negotiations with Canada Goyal saidIndia and SACU the South Africanled union are also considering whether the two sides can look for a trade deal he added So a lot of potential trade deals on the anvil Well certainly be hearing many more good news stories and making India an international player a global player of significance in the years to come he saidUnder trade pacts two or more nations either eliminate or reduce import duties on the maximum number of goods traded between them They also ease norms to promote trade in services and attract investmentsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever