📷 Image: Wikimedia Commons / Prime Minister's Office
Business
FTAs to Unlock $85 Trillion Market, Says Goyal, Urges Traders to Expand Footprint
✍️ Business Standard
🗓 31 Oct 2026, 08:45 PM
👁 1
Trade expert Goyal told Business Standard that upcoming free‑trade agreements will open an $85 trillion market, and Indian traders must broaden their presence to capture the opportunity.
Goyal, speaking to Business Standard, highlighted that a series of free‑trade agreements (FTAs) currently under negotiation are expected to give Indian exporters access to a combined market worth roughly $85 trillion. He emphasized that the sheer scale of this potential market calls for a strategic shift among Indian traders, who must move beyond traditional corridors and explore new regions and product segments.
The remarks come as the government accelerates talks on FTAs with several major economies, aiming to reduce tariffs and streamline customs procedures. Goyal warned that without proactive expansion, Indian firms could miss out on the competitive advantage that lower trade barriers are set to provide.
He urged industry bodies and individual exporters to invest in market research, build local partnerships, and adapt supply‑chain capabilities to meet diverse consumer preferences across the newly accessible markets. By doing so, he believes Indian traders can secure a stronger foothold in the global trade arena.
While the exact timeline for the FTAs' implementation remains under discussion, Goyal’s message underscores a clear call to action: seize the forthcoming $85 trillion opportunity by expanding trade footprints now.
The remarks come as the government accelerates talks on FTAs with several major economies, aiming to reduce tariffs and streamline customs procedures. Goyal warned that without proactive expansion, Indian firms could miss out on the competitive advantage that lower trade barriers are set to provide.
He urged industry bodies and individual exporters to invest in market research, build local partnerships, and adapt supply‑chain capabilities to meet diverse consumer preferences across the newly accessible markets. By doing so, he believes Indian traders can secure a stronger foothold in the global trade arena.
While the exact timeline for the FTAs' implementation remains under discussion, Goyal’s message underscores a clear call to action: seize the forthcoming $85 trillion opportunity by expanding trade footprints now.