CNN Central News & Network-ITDC India Epress/ITDC News Bhopal: Berlin. India is moving rapidly to increase its share in global trade and gain access to new markets. Union Commerce and Industry Minister Piyush Goyal said in Berlin, the capital of Germany, that India’s free trade agreements (FTAs) with various countries could gain the capacity to cover nearly 75 percent of the world’s GDP over the next 12 to 18 months. At present, according to him, these agreements provide access to about two-thirds of the global market.
Invitation to German companies to invest in India
Piyush Goyal invited German industry to invest in India, develop new technology and jointly manufacture products. He said Germany’s advanced engineering and technological expertise could be combined with India’s skilled human resources and competitive manufacturing capacity to meet the needs of international markets.
Emphasis on India-European Union trade agreement
The minister described the proposed free trade agreement between India and the European Union (EU) as important for strengthening trade, investment and supply chains. Through this agreement, the government plans to expand opportunities in the European market for Indian companies, especially micro, small and medium enterprises (MSMEs). The agreement is expected to be signed by the end of 2026, though the final timeline will depend on the formal process.
Partnership in industry, education and research
Goyal said that to move ahead in global competition, industries, universities and research institutions will also have to work together with the government. India’s goal is not only to increase trade but also to strengthen its role in global supply chains through technological innovation, manufacturing and investment.
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