India says many FTAs to be concluded 'very soon'

India says many FTAs to be concluded 'very soon'

India has indicated that several Free Trade Agreements (FTAs) are expected to be concluded "very soon," according to recent statements from government officials. This development is part of India's strategy to enhance its trade relationships and boost economic growth.

On 6 May 2025, the UK and India announced the completion of talks on a free trade agreement (FTA). Key aspects of this agreement include broad reductions in goods tariffs, with specific carve-outs by both nations, reductions in tariffs on certain services, and streamlined customs procedures [1]. The exact wording of the FTA is still being finalized, but it is expected to significantly reduce trade barriers between the two countries.

In a separate development, U.S. President Donald Trump mentioned that India has offered the U.S. a trade deal with "no tariffs." This offer comes as part of India's efforts to secure a trade agreement within the 90-day pause announced by Trump on tariff hikes for major trading partners [2]. The United States is India's largest trading partner, with bilateral trade totaling $129 billion in 2024.

These announcements highlight India's proactive approach in negotiating FTAs to strengthen its trade relationships. The UK-India FTA is seen as a significant step forward, and the potential U.S. deal further underscores India's commitment to expanding its trade network.

References:
[1] https://www.hoganlovells.com/en/publications/the-uk-india-free-trade-agreement-what-we-know-so-far
[2] https://www.zawya.com/en/economy/global/update-1-trump-india-has-offered-us-a-trade-deal-with-no-tariffs-ja6xs4fn