India Targets Expanded Global FTA Network Following Landmark EU Trade Agreement
Chief negotiator Darpan Jain outlines plans to deepen trade partnerships across North America, Latin America, Africa, the Gulf and other global regions after the India-EU Free Trade Agreement.
India is moving ahead with plans to expand its network of free trade agreements after concluding its landmark trade agreement with the European Union. The strategy includes strengthening trade partnerships across North America, Latin America, Africa and the Gulf, with negotiations underway or planned with several major economies.
Speaking at an event hosted by the Peterson Institute for International Economics, Darpan Jain, India's Chief Negotiator for the EU-India Free Trade Agreement, said the country's trade strategy is now focused on building commercial ties across virtually every major region of the world.
"Broadly, our intent is to cover the entire world," Jain said. "Hands are full. The table is full. Mind space is full. So we are all working with all efforts to try and diversify our relations, expand our partnerships, and enhance trade."
Jain stated that India has already covered "almost 50 per cent of global trade and 50 per cent of global economy" through the countries with which it has negotiated trade agreements over the past five years. He added that the current focus is shifting to regions where India has comparatively fewer trade agreements.
In North America, India is negotiating a free trade agreement with Canada, while discussions have also been initiated with Mexico.
In Latin America, India is negotiating with Chile and Peru and has begun discussions with the Mercosur bloc to expand its existing Preferential Trade Agreement.
"We intend to expand that," Jain said regarding Mercosur, adding that Latin America remains an important region where India aims to strengthen its trade presence.
India is also increasing its engagement with West Asia. Jain said the country already has trade agreements with the United Arab Emirates and Oman, and discussions are underway with Qatar, the Gulf Cooperation Council, and other countries in the region.
He identified Africa as another priority, noting that India is negotiating with the Southern African Customs Union and Kenya to broaden economic engagement across the continent.
Looking east, Jain said India already has trade agreements with Japan, South Korea, Singapore, and ASEAN member states. In Oceania, India has recently concluded agreements with Australia and New Zealand.
The remarks came shortly after India and the European Union concluded what has been described as one of the world's largest bilateral trade agreements, linking economies representing nearly two billion people.
Jain described the EU agreement as one of India's most ambitious trade pacts and said it reflects a strong political commitment to expand market access and strengthen India's integration into global trade.
"There is a strong political commitment to expand India's trade relationship with other countries, expand market access to other countries, and reduce the disadvantages which our exporters face," he said.
According to the report, the renewed emphasis on trade agreements reflects a broader shift in India's economic outlook, combining greater openness to imports with efforts to increase exports and strengthen the global competitiveness of Indian businesses.
The report also noted that the European Union is pursuing a similar strategy. Christophe Kiener, the EU's chief negotiator, said Brussels has already achieved preferential trade coverage for roughly half of its trade and is now focused on completing agreements in the Indo-Pacific, including negotiations with Thailand, the Philippines and Malaysia, while also pursuing talks with the United Arab Emirates.