THEBUSINESSBYTES BUREAU

NEW DELHI, FEBRUARY 11, 2026

Calling on Indian industry to sharpen its global edge, Union Commerce and Industry Minister Piyush Goyal on Tuesday urged exporters to intensify efforts to penetrate new markets, upgrade product quality and enhance competitiveness to fully leverage India’s recently concluded Free Trade Agreements (FTAs) with developed nations.

Addressing a high-level meeting with 35 Export Promotion Councils (EPCs) and leading industry associations, Goyal emphasized that the series of trade agreements signed with key economies — including the United Kingdom, European Union and the United States — offer unprecedented opportunities to boost exports, generate employment and accelerate India’s march toward the Viksit Bharat 2027 vision.

“Industry must now intensify its efforts to penetrate new markets, upgrade quality and become more competitive to take maximum advantage of trade agreements. India has made its mark in international trade since ancient times. These trade deals will accelerate our Viksit Bharat 2027 mission and carry forward Prime Minister Narendra Modi’s mantra of ‘Vikas bhi, Virasat bhi’,” the Minister said.

Goyal noted that the government’s FTAs are designed to benefit farmers, workers, professionals, artisans and MSMEs by ensuring preferential access to global markets while safeguarding sensitive sectors such as agriculture and dairy. He added that traditional Indian systems like Ayurveda and yoga would also gain expanded international reach under the new trade frameworks.

Industry leaders expressed appreciation for the government’s decisive leadership in securing the recent agreements. Particular gratitude was conveyed for the removal of the additional 25% tariff on Indian imports to the United States, following the US Executive Order dated February 6, 2026. The rollback is expected to restore competitive access for Indian exporters to one of their largest overseas markets.

Sectors previously impacted by the US tariff measures — including gems and jewellery, textiles and apparel, carpets, leather and footwear, marine products, handicrafts, engineering goods and chemicals — said the relief has revived business confidence and protected jobs in labour-intensive industries.

The Ministry also presented details of its recent trade engagement with the United States, outlining compliance requirements, expanded market access opportunities and export growth pathways. Industry welcomed the clarity and reaffirmed its commitment to scale up exports in priority sectors.

Discussions further highlighted progress under the Export Promotion Mission (EPM), with interventions such as interest subvention support on export credit, collateral-free export credit guarantees for MSMEs and targeted market access initiatives. Additional measures related to trade finance, logistics, compliance, branding and market diversification are set to be rolled out in phases.

Reiterating the government’s resolve, Shri Goyal affirmed that India will continue to deepen global integration and position itself as a trusted and competitive global supply partner.