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Informist, Saturday, Feb. 21, 2026
 
MUMBAI – Commerce Minister Piyush Goyal Friday said five free trade agreements finalised by India will be operationalised this year, according to Business Standard newspaper. The pacts with the UK and Oman are likely to be implemented in April while those with New Zealand may come into effect in September, according to the report.

 

The interim trade deal signed with the US will also be operational in April. Moreover, the European Union wants to implement the trade deal as early as possible, Goyal said, according to the report. He also announced the rollout of seven schemes under the INR 250.60 billion Export Promotion Mission. 

 

India had finalised a deal with the trade bloc last month. In December, India had signed a trade deal with Oman and concluded free trade agreement talks with New Zealand. It had also sealed a deal with the UK in May. "After finalising the terms of reference (ToR), India and Israel will launch FTA negotiations next week in Delhi," the report said. "That apart, the Gulf Cooperation Council (GCC) secretary general will be coming to India next, where the timeline of the launch of FTA talks will also be discussed," it said.

 

Goyal said that the export promotion missions are aimed at promoting new products and services while enabling Indian businesses to access new markets. These are designed to address challenges faced by Indian exporters and promote broad-based and inclusive export growth, according to the news report. This will also simplify processes for micro, small, and medium enterprises and strengthen access to credit, he said.

 

Under this, MSMEs will get a 2.5% interest subvention on export factoring transactions through recognised entities and capped at INR 5 million annually. A direct e-commerce credit facility will provide support up to INR 5 million, with 90% guarantee coverage for credit assistance for exporters. 

 

The government launched four interventions to help exporters expand market access. These are "Trade Regulations, Accreditation and Compliance Enablement, Facilitating Logistics, Overseas Warehousing and Fulfilment, Logistics Interventions for Freight and Transport, and Integrated Support for Trade Intelligence & Facilitation".

 

Trade Regulations, Accreditation and Compliance Enablement will reimburse 60–75% for eligible testing, inspection, and certification costs, up to INR 2.5 million per importer-exporter code, the report said. Facilitating Logistics, Overseas Warehousing and Fulfilment will provide up to 30% of the approved project cost for a maximum of three years, it said.

 

Logistics Interventions for Freight and Transport will mitigate geographical disadvantages faced by exporters in low export intensity districts. The government will provide a partial reimbursement of up to 30% of eligible freight expenditure, subject to a ceiling of INR 2 million per importer-exporter code per financial year, according to the report.

 

Integrated Support for Trade Intelligence & Facilitation will offer financial assistance up to 50% of project cost, with up to 100% support for proposals from central and state government institutions and Indian missions abroad, subject to notified ceilings, the report said.  End
 
Compiled by Simran Rede
Filed by Akul Nishant Akhoury 

 

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