In a resounding endorsement of India’s trade diplomacy, Minister Piyush Goyal revealed that recent agreements have granted Indian exporters tariff-free entry into markets encompassing 70 percent of the world’s GDP. The announcement came during a high-profile event in New Delhi.
Over the last three years, India has masterfully negotiated nine FTAs covering 38 nations, spanning affluent developed economies to emerging powerhouses. This portfolio includes pacts with the EU’s 27 members, EFTA’s quartet, UK, Australia, New Zealand, and the US, building on prior deals with Japan, Korea, and ASEAN.
Goyal’s message to the MedTech industry was clear: transcend local markets and capitalize on these gateways. These deals offer a golden opportunity to export scalable, low-cost solutions not just domestically but to distant regions like Africa, Latin America, and beyond.
He called on startups to engage aggressively in international expos and partner with global corporations. The Commerce Ministry pledges full backing, from delegation facilitation to leveraging India’s diplomatic network across 190+ nations.
Highlighting success stories, Goyal noted several startups have clinched CDSCO certifications, with others on the verge of FDA clearance—key enablers for global forays. True innovation, he asserted, must address everyday Indian needs while slashing costs through affordability and scalability.
As India fortifies its trade architecture, exporters stand at the cusp of exponential growth, ready to conquer 70 percent of global economic heft with competitive edge and governmental support.