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Piyush Goyal says India negotiating FTAs with 8 to 9 more blocs, aims to cover 75% of global trade
India is negotiating free trade agreements with at least eight to nine more groups of countries, aiming to cover 75% of global trade, Commerce and Industry Minister Piyush Goyal announced during a business delegation visit to Japan, as he courted Japanese investment across sectors including semiconductors and AI.
India Targets 75% of Global Trade in Expanded FTA Push
India is in negotiations with at least eight to nine additional groups of countries and individual nations, a move that would extend preferential trade coverage to about 75% of global commerce, Commerce and Industry Minister Piyush Goyal said during an official visit to Japan, as reported by multiple Indian media outlets.
Speaking to business representatives in Tokyo, Mr. Goyal said the prospective agreements would add a further $15 trillion to the pool of economies with which India enjoys preferential market access. He was quoted as saying, "So today India opens up the doors to preferential market access to $70 trillion of economy. We are in negotiations with at least 8 or 9 other groups of countries or countries which will add another $15 trillion."
Trade Leverage and Existing Pacts
The minister highlighted India's negotiating leverage, noting that nine free trade agreements signed in the last four years already cover economies with a combined GDP of $60 trillion, including 38 developed nations. Earlier pacts with Japan, Korea, and the ASEAN region had opened up another $10 trillion of GDP, he said.
"Basically 75% of global trade will be covered through our free trade agreements, opening India to become a part of the global value chain as a trusted partner," Mr. Goyal added, according to reports.
These remarks came during a four-day trip to Japan, where Mr. Goyal is leading a business delegation of more than 200 representatives from sectors including manufacturing, semiconductors, and clean energy. The itinerary includes stops in Tokyo, Nagoya, and Osaka, with meetings scheduled with leaders of major Japanese conglomerates, according to official statements and reports.
Investment and Bilateral Ties
Addressing representatives of Japanese firms, Mr. Goyal invited companies to localise and set up innovation centres, saying, "Our doors are open 24X7." He suggested that deepening localisation would enhance cost competitiveness and urged firms to consider India for research and development, innovation centres, and global capability centres.
The visit comes with India and Japan having designated 2026 as the 'India-Japan Year of Shared Horizons' to mark 75 years of diplomatic relations, as reported by The Hindu BusinessLine. Japan is the fifth-largest investor in India, with FDI of USD 48.14 billion received between April 2000 and March 2026, according to India Today.
Perspectives
Government of Japan
Japan's push for deeper ties with India has been reinforced by the recent trade tussle with China, which has added urgency to its economic diversification efforts.
Piyush Goyal, Union Commerce and Industry Minister, India
"India is not a plus one country. India stands on its own merits as a trusted partner. We don't steal anybody's technology, we don't copy anyone's intellectual property products and bring it into the market. In India you have a growing middle class, the fastest growing major economy in the globe and most importantly the youthful talent."
How each outlet told it
Business Today
Framing: Focuses on FTA negotiation target, but includes '75% of global trade will be covered' as a headline quote. — Business-oriented and promotional, with a focus on trade deals and delegation.
Facts Included:
India negotiating FTAs with 8-9 more groups for $15 trillion GDP
FTAs to cover 75% of global trade
Nine FTAs signed in last four years covering $60 trillion and 38 developed countries
Earlier pacts with Japan, Korea, ASEAN opening $10 trillion
Goyal leading delegation of over 200 representatives
Four-day visit to Tokyo, Nagoya, Osaka with G2G and B2B meetings
Discussions on semiconductors and AI
Meetings with Keidanren, Akazawa Ryosei, and others
Framing: Headline focuses on FTA negotiations and 75% trade coverage, similar to PTI wire report. — Neutral and factual, as expected from wire service.
Facts Included:
India in negotiations with at least 8-9 more groups of countries for another $15 trillion GDP
FTAs to cover 75% of global trade
Nine FTAs signed in last four years covering $60 trillion GDP and 38 developed countries
Earlier pacts with Japan, Korea, and Asean opened $10 trillion
Goyal leading delegation of over 200 representatives
Opportunities in data centers, manufacturing, and AI
Increasing economic ties should lead to balanced trade
Framing: Focuses on India's FTA negotiations and the goal to cover 75% of global trade, with Goyal's statement on expansion. — Neutral and business-focused, with a forward-looking tone on trade coverage.
Facts Included:
India is in negotiations with at least 8-9 more groups of countries that account for another USD 15 trillion of GDP
Free trade agreements would eventually cover about 75 per cent of global trade
India has signed nine FTAs in the last four years
Nine agreements cover economies with combined GDP of USD 60 trillion and 38 developed countries
Earlier trade pacts with Japan, Korea, and Asean opened another USD 10 trillion
Goyal is leading a business delegation of over 200 representatives
Opportunities in data centers, manufacturing, and artificial intelligence
Increasing economic ties should lead towards balanced trade
Framing: Highlights Goyal's invitation to Japanese firms to invest, localise, and innovate, focusing on investment opportunities. — Warm and inviting, as seen in the quote 'Our doors are open 24X7.'
Facts Included:
Goyal invited Japanese companies to invest, localise, and set up innovation centres, saying 'our doors are open 24X7'
Addressed representatives of Japanese firms
Indian economy growing at faster pace and opening doors via FTAs
Urged localisation to enhance cost competitiveness
Suggested setting up R&D, innovation centers, and GCCs, and engineering partnerships with Indian academia
Government willing to support innovation funding
Japan is fifth largest investor in India
India received USD 48.14 billion in FDI from Japan between April 2000 and March 2026
Japan accounted for 6 per cent of total FDI
Goyal leading a 200-member business delegation
Japan set investment target of 10 trillion yen (about Rs 60,000 cr) in India over a decade
Framing: Emphasizes Goyal's call for Japanese companies to double in India, focusing on bilateral economic ties rather than the broader FTA negotiations. — Optimistic and invitation-focused, captured by the quote 'I believe that this decade should see that number double.'
Facts Included:
Piyush Goyal called for the number of Japanese companies in India to double this decade
He addressed a roundtable with Japan-India Business Consultative Committee (JIBCC) of the Japan Chamber of Commerce and Industry (JCCI) and the Embassy of India
India and Japan designated 2026 as 'India-Japan Year of Shared Horizons' to mark 75 years of relations
Goyal mentioned India's progression from $4 trillion to $30 trillion economy by 2047
Goyal is leading a nearly 200-business delegation
Visit covers Tokyo, Nagoya and Osaka, with representatives from manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups
Japan's bilateral trade with India stood at $27.47 billion during FY 2025-26
Exports from Japan to India were $21.43 billion, imports $6.04 billion
Framing: Headline combines Japan investment and FTA coverage, but leads with investment seeking, possibly emphasizing trade expansion. — Informative and detailed, with a focus on trade figures and investment opportunities.
Facts Included:
India is in negotiations with at least 8-9 more groups of countries that account for another $15 trillion of GDP
FTAs would eventually cover about 75 per cent of global trade
India has signed nine FTAs in last four years covering $60 trillion GDP and 38 developed countries
Earlier pacts with Japan, Korea, and ASEAN opened $10 trillion
India has finalised trade pacts with EU, EFTA bloc, UAE, Mauritius, Australia, Oman, New Zealand, US and UK
Negotiating with Israel and Canada; signed terms of references with SACU and GCC
Goyal leading delegation of over 200 representatives
Opportunities in data centers, manufacturing, artificial intelligence, and space sector
Two-way commerce grew 9.18% to $27.47 billion in 2025-26
Trade deficit rose to $15.4 billion from $12.66 billion in 2024-25
1,580 Japanese firms operating in India
Quoted Goyal on Suzuki India's market cap higher than parent
Invited Japanese firms to set up units in 20 industrial smart cities and 100 plug and play parks
Met with Tokyo Electron, Mitsubishi, Meiji Seika Pharma delegations
Framing: Emphasizes India as a 'safe base', framing Goyal's pitch in terms of trust and security for investors. — Slightly combative toward China, with a promotional tone for India, as seen in the quote about not being a 'plus one'.
Facts Included:
Goyal pitched India as safe base for Japanese companies, mentioning data protection and IP security
Goyal said entrepreneur does not 'go missing only to be found as a professor in some other country'
Seen as dig at China, amid 'China+1' strategy
India is not a plus one country, stood on own merits
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Claim
Confidence
Status
ClaimIndia is in negotiations with at least 8-9 more groups of countries and individual nations that together account for another $15 trillion of GDP.
ClaimCommerce and Industry Minister Piyush Goyal is leading a business delegation of more than 200 representatives to Japan to boost trade and investment ties.
ClaimCommerce and Industry Minister Piyush Goyal identified data centers, manufacturing, and artificial intelligence as areas offering large opportunities for investment in India.
ClaimCommerce and Industry Minister Piyush Goyal said that increasing economic ties between India and Japan should lead towards balanced trade between the two countries.
ClaimThe visit covers Tokyo, Nagoya and Osaka, with representatives from manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.
ClaimCommerce and Industry Minister Piyush Goyal invited Japanese companies to invest in India, localise, and set up innovation centres, saying 'our doors are open 24X7'.
ClaimCommerce and Industry Minister Piyush Goyal said 'I am told that Suzuki India's market cap is higher than that of its parent company. We would like to see 1,580 Suzukis developed out of India.'
ClaimCommerce and Industry Minister Piyush Goyal invited Japanese firms to set up units in the 20 industrial smart cities being developed in India and 100 plug and play industrial parks.
ClaimCommerce and Industry Minister Piyush Goyal met with a delegation from Tokyo Electron led by Takeshi Okubo, Corporate Officer and Executive Vice President (Global Sales Division and India Business), and discussed Tokyo Electron's investments in India's semiconductor ecosystem.
ClaimCommerce and Industry Minister Piyush Goyal met Juro Baba, Representative Director of Mitsubishi Corporation, and discussed opportunities to expand collaboration across mobility, energy, and infrastructure.
ClaimCommerce and Industry Minister Piyush Goyal met Toshiaki Nagasato, President and Representative Director of Meiji Seika Pharma Co., Ltd, and discussed opportunities to strengthen India-Japan cooperation in the pharmaceutical sector.
ClaimCommerce and Industry Minister Piyush Goyal pitched India as a safe base for Japanese companies, saying data is protected, intellectual property is secure, and an entrepreneur does not 'go missing only to be found as a professor in some other country'.
ClaimCommerce and Industry Minister Piyush Goyal said 'India is not a plus one country. India stands on its own merits as a trusted partner. We don't steal anybody's technology, we don't copy anyone's intellectual property products and bring it into the market. In India you have a growing middle class, the fastest growing major economy in the globe and most importantly the youthful talent.'
ClaimCommerce and Industry Minister Piyush Goyal signalled that the government was willing to relax rules, provided it does not result in imports from 'one country' with predatory pricing.
ClaimCommerce and Industry Minister Piyush Goyal said that Japan has very good technologies but not enough people, and excellent business practices but not enough market, and that India can be an excellent partner providing economies of scale.
ClaimCommerce and Industry Minister Piyush Goyal said he spoke to officials in India to find a solution to issues flagged by a semiconductor equipment manufacturer and an auto components player.
ClaimCommerce and Industry Minister Piyush Goyal's visit to Japan is scheduled to include a round-table with Keidanren, the Japan Business Federation, representing over 1,500 leading Japanese companies.
ClaimIn Nagoya, Piyush Goyal will lead a roadshow with Chukeiren, the Central Japan Economic Federation, and the Nagoya Chamber of Commerce and Industry.
ClaimOfficials at the Federation of Indian Chambers of Commerce and Industry said the visit is expected to give fresh momentum to bilateral trade and investment ties.
8 outlets · 10 articles consulted: Business Today, Daily Excelsior, The Economic Times, India Today, Outlook Business, The Hindu Business Line, The Times of India, The Hindu — World45 claims extractedVersion 2Written 2026-08-25