India's Global Trade Talks: Challenges and Progress

India faces hurdles in finalizing a Free Trade Agreement with Peru due to market access issues, while talks with Israel and Canada continue. Despite geopolitical challenges, discussions with Israel are ongoing, and the pact with Canada is advancing, with the next round of talks set to begin soon.

Union Commerce and Industry Minister Piyush Goyal revealed on Friday that India is unlikely to seal a Free Trade Agreement with Peru due to unresolved market access issues for multiple products. Goyal was speaking at the Toy Biz International B2B Expo 2026, where he noted that although discussions with Peru are stalled, negotiations with Canada are progressing well and talks with Israel are ongoing despite the turmoil in West Asia.

Addressing concerns about a global economic slowdown, Goyal highlighted India's economic resilience, underscored by hosting over 50 international delegates at Bharat Mandapam. He credited Prime Minister Narendra Modi's focus on quality and sustainability for India's economic strength, anticipating significant growth in the country's toy industry.

Amid the ongoing West Asia crisis, Goyal mentioned that, though slow, negotiations for an India-Israel Free Trade Agreement continue. He expressed hope that talks will accelerate after regional peace is restored. Furthermore, discussions with Canada remain on track, with new talks scheduled to begin Monday, aiming completion within six months.

Goyal also shared plans to visit Brussels alongside External Affairs Minister Subrahmanyam Jaishankar and Union Minister Ashwini Vaishnaw for dialogues with the European Commission, enhancing the India-European Union Trade and Technology Council discussions. This effort aims to refine and implement the finalized free trade agreement with the EU effectively.