New Delhi: Visakhapatnam: India is currently negotiating free trade agreements (FTAs) with several key global partners, including the United States, European Union, New Zealand, Oman, Peru, and Chile, Commerce and Industry Minister Piyush Goyal said on Friday. The announcement came at the CII Partnership Summit 2025 in Visakhapatnam.
India has already implemented FTAs with countries such as the UAE, Australia, and the four-nation European bloc EFTA. Goyal highlighted that lowering trade barriers globally would facilitate the free flow of goods, services, and capital, boosting international business opportunities.
“To promote ease of doing business, the Centre has removed 42,000 compliance requirements and abolished 1,500 outdated laws,” he added. Goyal also emphasized India’s trust-based diplomacy, which is reflected in its expanding network of FTAs amid rising global protectionism.
Goyal proposed that the India Trade Promotion Organisation (ITPO) collaborate with the Andhra Pradesh government to build a world-class convention centre — Andhra Mandapam — modeled on Delhi’s Bharat Mandapam. Andhra Pradesh Chief Minister N Chandrababu Naidu confirmed that land would be provided for the project.
On the sidelines of the summit, Goyal and Naidu also virtually laid the foundation for Drone City and Space City in Andhra Pradesh. Goyal emphasized the need for India to be self-reliant in producing high-quality drones, noting that the upcoming Drone City in Kurnool would play a crucial role in developing indigenous drone capabilities.
The minister outlined steps to expand global collaboration, including two-way investment, technology cooperation, and a predictable policy framework to ensure long-term partnerships between nations.
