Piyush Goyal: Lowering Global Trade Barriers Key to Boosting Free Flow of Goods and Capital

Commerce and Industry Minister Piyush Goyal on Friday said that reducing global trade barriers is essential for enabling the smoother movement of goods, services and capital across borders.

Speaking at the CII Partnership Summit 2025, Goyal stated that India is actively negotiating Free Trade Agreements (FTAs) with several major partners, including the United States, European Union, New Zealand, Oman, Peru and Chile.

Highlighting the government’s efforts to simplify business regulations, he noted that the Centre has removed nearly 42,000 compliances and abolished 1,500 outdated laws to boost ease of doing business.

Goyal also said the India Trade Promotion Organisation (ITPO) is open to collaborating with the Andhra Pradesh government to develop a world-class convention centre—Andhra Mandapam—modelled on New Delhi’s Bharat Mandapam.

India has already operationalised FTAs with the UAE, Australia, and the EFTA bloc comprising four European nations.

“We are currently negotiating with the EU, US, Oman, New Zealand, Chile and Peru—and many more countries are eager to begin discussions,” Goyal added.