Even though India has entered into a free trade agreement (FTA) with the European Union after a period of 20 years, it is working on several more trade deals, officials said, indicating that a few more could be concluded this year or in 2026.
“Discussions with the United States towards a bilateral trade agreement continue in a very cordial and good atmosphere,” they said, while refusing to give a specific date on when the agreement will be signed.
Negotiations are underway with Israel and GCC countries for FTAs, the source said, adding that Canada has also expressed a desire to accelerate its trade deal with India. Commerce and Industry Minister Piyush Goyal is likely to visit Canada in the third week of February to take forward the negotiations, commerce ministry sources said.
Meanwhile, the ALE with Chile is also close to completion and is expected to accelerate after the presentation of the Union Budget.
The review of the India-ASEAN FTA is also underway and “taking shape”, an official said, adding that discussions with MERCOSUR on the trade deal would begin soon and the scoping study had just begun.
“India is happy and willing to expand its trade agreements, and we are carefully reviewing each FTA,” the source said, adding that at present it is difficult to estimate how much exports will increase through these agreements.
Over the past few months, India has already concluded four FTAs. The trade agreement with Oman, signed in December, will likely be the first to come into force. The FTA with New Zealand, which was also concluded in December 2025, is currently undergoing legal review and will soon be submitted to Parliament for approval.
In the comprehensive economic and trade agreement with the United Kingdom, signed in July 2025, the legal purification of the text has been completed and the social security agreement is being finalized. The project will then be submitted to the British Parliament for approval, the sources said.
