Overview
- Commerce minister Piyush Goyal framed the strategy at the India Global Innovation Connect on June 11, saying FTAs are central to India’s growth plan and noting nine pacts have been signed covering 38 countries over the past three to three-and-a-half years.
- Under the Trade and Economic Partnership Agreement with the European Free Trade Association, EFTA members pledged $100 billion of investment over 15 years and a goal of one million direct jobs, and officials say talks on those investments are actively progressing in year two of implementation.
- The government has begun operationalizing a ₹1 lakh crore R&D fund with initial projects approved and is using recent infrastructure upgrades plus a claimed rise in renewable power capacity to pitch India as an attractive location for data centres and high‑tech investment.
- Goyal said India will use targeted measures against dumping and overcapacity from certain countries and prefers bilateral responses where the WTO is viewed as ineffective, while reaffirming commitment to a rules‑based trading system.
- The strategy rests on complementarity: developed economies provide capital and technology while India offers a young workforce, lower operating costs and a large market, a mix that could speed technology transfer, create jobs and shift more trade disputes into negotiated bilateral channels.