India's businesses have to take full advantage of the recently-struck free trade agreements (FTAs) to ensure the country takes a "big leap forward", Union commerce minister Piyush Goyal said in a post-Budget webinar 2026 on Monday.
"Two-third of global trade is now open for India, where it will get preferential access. This sort of opportunity (should be exploited) to grow our pharma and health sector," Goyal said.
He said that start-ups, corporates, and MSMEs must work towards making good use of FTAs.
"In the past three-four years, India has struck 9 FTAs. Talks with Canada and Latin American countries are moving forward in a fast pace…even six Gulf Cooperation Council countries are willing to strike an FTA with India soon," Goyal noted.
On skilling, the Minister said that if "we focus of skill development, our workforce (in India and abroad) will help us in increasing our commerce and remittances."
He also said that industry to bring in all AI-technologies in India, which can be used to improve our healthcare system.
In the February’s Monthly Economic Review, the finance ministry said that the external sector is stable despite elevated global trade uncertainty. "Moreover, India’s active trade diplomacy, including progress on the India-EU FTA, the India-US Interim Trade Arrangement and the India-Oman CEPA, together with Budget initiatives aimed at improving trade facilitation, logistics efficiency and export competitiveness, is expected to diversify export destinations and strengthen external resilience over the medium term."
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