India Expects Nine Trade Pacts To Take Effect Within 10 Months, Says Goyal

India is preparing for the rollout of nine free trade agreements (FTAs) signed over the past three years, with all of them expected to become operational within the next 10 months, Commerce and Industry Minister Piyush Goyal said on Thursday.

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Speaking at the Citi 2026 India Conference in Mumbai, Goyal said the government is also working toward concluding another three to four major trade agreements over the next year as part of its broader strategy to strengthen India’s integration with global markets and boost manufacturing-led growth.

The minister said at least two to three significant FTAs are expected to come into force within the next six months, following the implementation of the Oman trade agreement on June 1. According to Goyal, the nine agreements signed in recent years collectively cover 38 developed economies whose economic strengths complement India’s growth trajectory.

Focus On Manufacturing And Investment

Addressing international investors, Goyal said global companies are increasingly viewing India as a preferred destination for manufacturing and long-term investments as businesses reassess supply-chain strategies.

He said discussions with representatives from around 50 international companies indicated growing interest in India as a reliable manufacturing base, investment destination and business partner.

The minister added that long-term global capital continues to evaluate opportunities in India, supported by the country’s economic growth prospects, expanding domestic market and demographic profile.

Industrial Infrastructure Push

Goyal highlighted the government’s recent announcement of a $3.5 billion programme aimed at developing 100 industrial parks across the country.

The proposed parks are expected to provide ready-to-use industrial infrastructure, including land parcels, utility services, worker accommodation, environmental approvals and digital connectivity.

According to the minister, the initiative is designed to reduce project implementation timelines and improve ease of investment for domestic and international manufacturers.

Reforms And Economic Strategy

The government has also undertaken regulatory reforms to simplify business operations, Goyal said. He pointed to the implementation of the four Labour Codes, which consolidated 29 labour laws into a streamlined framework.
Infrastructure spending remains a key pillar of India’s economic agenda. The minister said nearly $130 billion is being invested in roads, ports, airports and rural connectivity projects to support long-term economic expansion.

He also stated that India has strengthened its energy security by diversifying sourcing arrangements and maintaining stable fuel availability despite geopolitical disruptions in West Asia.

As negotiations on new trade pacts near completion, the government is trying to open up new markets for Indian companies to make India a bigger player in global supply chains and manufacturing.