India’s Trade Push Enters A New & More Aggressive Phase, Here's How FTAs Expanding Will Drive Faster Growth & Boost MSME Exports Globally?

New Delhi: In an interview with PTI, Prime Minister Narendra Modi said India’s recent trade agreements with the EU, UK, Australia, UAE and others reflect a stronger and more confident economy. He said India now has Free Trade Agreements (FTAs) with 38 partner nations, calling it an unprecedented milestone.

According to him, earlier trade talks under previous governments did not conclude successfully. He said reforms, political stability and policy clarity over the last decade helped India negotiate from a position of strength.

Big Export Opportunities

Under the India-UK and India-EU agreements, 99 percent of Indian exports will get zero-duty access. This will benefit sectors such as textiles, footwear, electronics, engineering goods and chemicals.

The Prime Minister said these agreements go beyond tariff cuts. They improve supply-chain integration and give Indian firms better access to advanced markets. Merchandise trade with Australia and the UAE has doubled after FTAs were signed.

He said services trade will also gain. IT, financial services and professionals will get better regulatory certainty and mobility.

MSMEs At The Centre

The Prime Minister said MSMEs are now central to trade policy. He highlighted easier credit, reduced compliance burden and support for certification and technology upgrades.

He said MSMEs must become globally integrated enterprises, not just local suppliers. Sectors such as leather, handicrafts, processed food and gems and jewellery are expected to benefit.

He described these agreements as tools to help India move towards 'Viksit Bharat 2047'.