Washington, July 9: India is accelerating negotiations for new free trade agreements across North America, Latin America, Africa and the Gulf as part of a broader strategy to diversify export markets and strengthen its global trade footprint following the conclusion of its landmark trade agreement with the European Union.
The country’s chief trade negotiator, Darpan Jain, said New Delhi is pursuing trade partnerships across nearly every major region of the world to expand market access for Indian businesses and deepen commercial ties. He made the remarks during an event hosted by the Peterson Institute for International Economics in Washington.
Jain, who served as India’s chief negotiator for the India-European Union Free Trade Agreement, said the government’s trade strategy is focused on broadening international economic partnerships. “Broadly, our intent is to cover the entire world,” he said, adding that India is simultaneously pursuing multiple trade negotiations to diversify its global engagement.
According to Jain, India has negotiated trade agreements over the past five years covering countries that together account for nearly 50 per cent of global trade and half of the world’s economy. The current focus, he said, is on regions where India’s trade agreement network remains relatively limited.
In North America, India is negotiating a free trade agreement with Canada while discussions have also begun with Mexico. In Latin America, negotiations are underway with Chile and Peru, alongside efforts to expand the existing Preferential Trade Agreement with the Mercosur bloc.
Jain said India also intends to deepen its economic engagement in West Asia. The country already has trade agreements with the United Arab Emirates and Oman, while discussions are continuing with Qatar, the Gulf Cooperation Council and other countries in the region.
Africa has also emerged as a priority in India’s trade strategy. Negotiations are currently underway with the Southern African Customs Union and Kenya as New Delhi seeks to strengthen commercial engagement across the continent.
Highlighting India’s existing trade network, Jain said the country already has agreements with Japan, South Korea, Singapore and ASEAN member states. More recently, India concluded trade agreements with Australia and New Zealand, further expanding its presence in the Indo-Pacific region.
Jain described the recently concluded India-European Union trade agreement as one of the country’s most ambitious trade pacts, reflecting strong political commitment to expand market access, reduce disadvantages faced by Indian exporters and integrate the economy more closely with global trade.
He said the government’s renewed emphasis on trade agreements also reflects a broader shift towards greater openness to imports while simultaneously strengthening export competitiveness and improving the global position of Indian businesses.
Speaking at the same event, European Union chief negotiator Christophe Kiener said the EU is pursuing a similar strategy by expanding preferential trade coverage and advancing negotiations with countries in the Indo-Pacific, including Thailand, the Philippines and Malaysia, while also holding talks with the United Arab Emirates.
