India FTA Talks: Chile Deal Nears Conclusion, Canada Negotiations Progress, Says Goyal

India is advancing negotiations on free trade agreements (FTAs) with several countries and regional blocs, with discussions involving Chile approaching conclusion and talks with Canada progressing well, Commerce and Industry Minister Piyush Goyal said.

Speaking to reporters, Goyal outlined India's expanding trade agenda, including negotiations with African, South American and West Asian partners.

Chile, Canada FTA Talks Progress; SACU Negotiations Begin

Goyal said discussions with Chile were nearing completion, while negotiations with Canada were moving forward positively.

India has also initiated talks with the Southern African Customs Union (SACU), comprising Botswana, Eswatini, Lesotho, Namibia and South Africa.

Both sides signed terms of reference in August to begin negotiations for a preferential trade agreement (PTA).

Mexico has expressed interest in an early harvest trade arrangement, while India hopes to accelerate discussions on expanding its existing PTA with Mercosur.

The South American bloc includes Argentina, Bolivia, Brazil, Paraguay and Uruguay.

The India-Mercosur agreement, effective since June 1, 2009, provides preferential tariff concessions on 450 Indian tariff lines and 452 product categories from Mercosur.

Both sides are examining ways to broaden its coverage.

Goyal also said Ecuador had shown interest in an FTA, while Egypt and other African countries had approached India about potential trade cooperation.

West Asia Crisis Slows GCC, Israel Trade Talks

Negotiations with the Gulf Cooperation Council (GCC) and Israel have slowed because of the West Asia conflict, although India remains prepared to accelerate discussions when circumstances permit.

The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

India already has trade agreements with the UAE and Oman.

Regarding the Eurasian Economic Union (EAEU), Goyal said India was assessing the benefits of an agreement restricted to goods, without services.

The two sides signed negotiation terms in August 2025 and held their first round of talks in November that year.

On the proposed India-US bilateral trade agreement, Goyal expressed confidence that India would secure preferential market access.

Both countries announced a framework for the agreement's first phase in February, but changes in US tariff policies have prompted further negotiations.