India's Expedited Free Trade Negotiations: A Glimpse into Future Export Growth

Finance Minister Nirmala Sitharaman emphasized swift progress in free trade negotiations with the US and EU, aimed at boosting exports to achieve a USD 2 trillion target by 2030. These discussions are crucial as India seeks to expand its global trade footprint, following agreements with nations like the UAE and Australia.

At a recent Trade Conclave organized by India Exim Bank, Sitharaman noted that India's export sector is thriving, with goods and services exports reaching a record USD 825 billion in FY25. Despite a global export growth of only 4%, India's exporters have overcome significant trade challenges.

Financial Services Secretary M Nagaraju reinforced this optimistic outlook, highlighting India's resilience amid global uncertainties. The country's integration into the global value chain continues to strengthen, particularly within the pharmaceutical and jewelry sectors. With low non-performing assets and robust financial systems, India remains a beacon of economic hope.

(With inputs from agencies.)