India is actively negotiating Free Trade Agreements (FTAs) with the European Union, United States, Chile, and Peru, signalling its intent to expand trade partnerships across diverse regions—morning talks with Australia and Japan, afternoon with Europe, and evening with the US, Chile, and Peru. 

Separately, India’s FTA with Oman is in its final stages, with Commerce Minister Piyush Goyal confirming that the agreement is “almost finalised.”  India is simultaneously negotiating trade pacts with New Zealand, Sri Lanka, and others, based on strategic needs and global opportunities. 

India and the EU have reaffirmed their goal to conclude the FTA by end-2025, with negotiations marked by progress in areas like digital trade and anti-fraud measures. Additionally, Prime Minister Modi emphasized this timeline, linking it to broader economic corridor ambitions.

India and the US have completed five rounds of talks toward a Bilateral Trade Agreement (BTA), aiming to double trade to USD 500 billion by late 2025. However, negotiations have been delayed, especially due to new US tariffs—culminating in possible 50% duties—and tensions over India’s purchase of Russian oil.

India has reignited its efforts with Peru and Chile, entering the 8th and 2nd rounds of talks respectively. The approach is cautious, with Indian negotiators ensuring any agreement prevents misuse as a conduit for Chinese exports. These negotiations are seen as vital to offset US tariffs’ impact, especially for export sectors like textiles, gems, aluminium, and engineering goods.

The recent US duties have prompted India to aggressively pursue deals with the EU, Chile, and Peru to mitigate adverse effects on textiles, leather, and marine exports.