India is negotiating trade deals from a position of confidence, not compulsion, Union Commerce and Industry MinisterPiyush Goyalsaid on Friday, while addressing the ET NowGlobal Business Summit(GBS) 2026. Goyal hailed the recent trade agreements finalised with the United Kingdom and the United States and assured that the interests of farmers, MSMEs, fishermen and artisans have been protected.
Goyal described the India-US interim trade pact and recent agreements with major economic blocs as proof that New Delhi can open markets abroad while safeguarding domestic sensitivities. "India's global engagement today, from a position of strength, with self-confidence in our ability to compete, has been noted across the world. We have to engage with the world if we wish to see India as a developed nation," Union Minister Piyush Goyal said while addressing the GBS 2026.
"I can give you Free Trade Agreements one after another where India has been able to get the best and protect the interests of our farmers, MSMEs, fishermen, artisans...," Goyal said amid allegations of the opposition.
"We have just concluded two very large FTAs with two of the largest economic blocs, the EU bloc of 27 countries and the U.S. Together, they open up a market of nearly $55-60 trillion. There has never been any other country other than India which has finalised an FTA with Australia, New Zealand, the UK, the EU, the four-nation EFTA, and the US, keeping all dairy out of the FTA," Goyal said.
India and the US announced last week that they have reached a framework for the first phase of the bilateral trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade. As per the agreement, the US has reduced tariffs on Indian goods to 18% and withdrawn the additional 25% duty, providing significant relief to Indian exporters.
At a time when technology, geopolitics, capital and society are rapidly changing, The Times Group’s ET NOW Global Business Summit (GBS) 2026 will bring together some of the world’s most influential leaders in New Delhi. The summit will be held on February 13 and 14 at Taj Palace, New Delhi, under the theme: “A Decade of Disruption. A Century of Change.” Prime Minister Narendra Modi will grace Day 1 of the summit, underscoring the importance of the platform in shaping India’s and the world’s economic future.
With Prime Minister Modi’s presence and a strong global lineup, GBS 2026 is set to be one of Asia’s most influential leadership gatherings, focusing on how nations and businesses can turn disruption into long-term advantage.
Several other global economists, CEOs, investors and policymakers from institutions such as the IMF, World Bank, and leading multinational companies will also participate.
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Apoorva Shukla is a journalist at Times Now, where she thrives on dissecting political developments both at home and abroad. A graduate of Delhi Univ...View More
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