India's Global Trade Strategy: Building Trusted Partnerships

India is currently negotiating free trade agreements with multiple global partners, including the U.S., European Union, and GCC. Commerce Minister Piyush Goyal emphasized the importance of trusted partnerships in the face of tariff hikes. Ongoing discussions involve ASEAN, EAEU, and resuming talks with Canada for CEPA.

In a strategic move to bolster its global economic ties, India is actively negotiating free trade agreements with numerous countries and trading blocs. Commerce and Industry Minister Piyush Goyal announced that discussions are underway with partners including the United States, European Union, and the Gulf Cooperation Council (GCC).

Minister Goyal emphasized the necessity of forming alliances with 'trusted' partners amidst a climate of trade wars and rising tariffs, citing the US's recent duty hikes on Indian goods. Talks with individual countries and regional groups are progressing, aiming for comprehensive trade agreements to enhance bilateral trade.

Negotiations are also in progress with associations like ASEAN, EAEU, and countries such as New Zealand and Israel. Notably, the India-Canada CEPA talks are set to resume. These efforts underscore India's commitment to creating a robust trade network in response to shifting global trade dynamics.

(With inputs from agencies.)