India’s free trade agreements (FTA) will help generate surpluses and the country is “comfortable” for the next five-six years in its foreign exchange position, commerce and industry minister Piyush Goyal said Wednesday. He also asked the Indian industry to do business with reliable partners in the supply chain.
Goyal exuded confidence on achieving $1 trillion each of goods and services exports by 2030.
He said that the overall exports had been at $500 billion for almost a decade but reached $776 billion in FY23 with $450 billion of merchandise exports and $326 billion of services exports. “So we will be an economy which will be reporting surpluses in the years to come. And these free trade agreements will only accelerate that process, will help us generate surpluses, help us keep a strong economy,” he said.
