EconomyFriday, 4 September 2026·Hindu Tamil Thisai
India’s trade deal strategy with US, EU and other blocs: Piyush Goyal’s 2026 update
Piyush Goyal said India’s trade deal with the US will be finalised if it gets favourable concessions, while several other agreements are being pursued or reviewed.
Key highlights
Direct fact
In September 2026, Union Commerce and Industry Minister Piyush Goyal said in New Delhi that India would finalise a trade agreement with the United States only if it receives concessions better than competing countries.
Key specifics
- India has already concluded 9 free trade agreements covering economies with about $60 trillion in GDP.
- These agreements give India access to nearly two-thirds of global trade markets, according to the minister’s statement.
- Trade pacts are expected with Canada, Mexico, Chile, Mercosur, the Southern African Customs Union, the Gulf Cooperation Council and Israel.
- India’s trade agreements with Britain, Mauritius, Oman, the United Arab Emirates and Australia have already been implemented.
- Negotiations with ASEAN, South Korea and Japan are also under review, and the EU-27 agreement is expected to come into force later.
Exam lens
Question type: economy and international trade match-the-following; remember the names of blocs, the figure of 9 FTAs, $60 trillion GDP coverage, and the 75% global trade access claim. TNPSC may ask which countries/blocs are in the pipeline and which agreements are already in force.