India Gains Access to Two-Thirds of Global Trade Markets

India has secured preferential trade access to nearly two-thirds of global trade, according to Union Commerce and Industry Minister Piyush Goyal. He made this announcement during the closing session of the 5th National Exports Competitiveness Summit 2026, which was organized by the Confederation of Indian Industry (CII). The summit took place at a private hotel in Chennai, where Goyal participated via video conferencing.

Themed “Reform, Perform and Transform,” the event gathered senior government officials, policymakers, diplomats, financial institutions, and industry leaders to explore India’s goal of achieving a USD 1 trillion export target. Goyal emphasized that despite global uncertainties, India is actively “building bridges of trade, bridges of trust, and bridges of transformation.”

Under the leadership of Prime Minister Narendra Modi, India has made significant progress in finalizing numerous high-quality Free Trade Agreements (FTAs). Goyal noted an impressive feat where, within a span of just six hours, India launched negotiations for an FTA with the Gulf Cooperation Council, engaged in finalization talks with Israel, and prepared to start negotiations with Chile.

The Minister pointed out that merchandise trade with Australia and the UAE has doubled since the establishment of respective FTAs, showcasing the tangible benefits of enhanced trade partnerships for Indian exporters.

Strategic Plans for Export Growth

To further boost export growth, Goyal outlined a four-point strategy. This includes the need for wider dissemination of FTA benefits to micro, small, and medium enterprises (MSMEs) and local clusters. He called for renewed focus on achieving world-class quality standards and advancing towards the production of higher-value products. Additionally, he emphasized the importance of enhanced corporate mentorship to foster district-level export ecosystems.

The summit concluded with a strong call for increased cooperation between government and industry stakeholders, aimed at establishing India as a leading global export hub. This collaborative effort is expected to drive substantial growth in exports, ultimately benefiting the wider economy and enhancing India’s position in the global market.