Modi Cites FTAs with 38 Countries as Export Boost

Prime Minister Narendra Modi stated that India has signed free trade agreements with 38 countries, crediting the nation's political stability and economic growth for enabling negotiations from a position of strength. In a recent interview with the Press Trust of India and remarks at the ET Now Global Business Summit, Modi emphasized how these pacts are expanding export opportunities for Indian industries and integrating the country deeper into global supply chains.

Modi highlighted that the agreements, involving partners such as the United States, European Union, United Kingdom, Australia, and New Zealand, provide near-zero tariffs for Indian goods. He noted that they particularly benefit micro, small, and medium enterprises in sectors including textiles, leather, chemicals, handicrafts, and gems and jewelry. "Our FTAs are designed to expand market access for MSMEs," Modi said, adding that improvements in manufacturing, services, and the MSME sector have bolstered India's bargaining power internationally.

The prime minister contrasted these successes with trade talks during the previous United Progressive Alliance government's tenure, which he described as often starting...