India aims to sign terms for FTA with Ecuador in July, says trade minister
This story was originally published at 20:28 IST on 29 April 2026
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NEW DELHI – India and Ecuador aim to sign the terms of reference for a free trade agreement during the joint economic and trade committee meeting in July, Commerce Minister Piyush Goyal said Wednesday after meeting Ecuador's Foreign Affairs Minister Gabriela Sommerfeld Rosero. At the meeting Wednesday, the two ministers agreed to study economic complementarities and prepare the terms of reference, Goyal said.
India aims to finalise a free trade agreement with Ecuador within 3–4 months, Goyal said. India had a bilateral trade of $567 million with Ecuador in 2025, including $415 million in exports.
New Delhi aims to sign 6–7 more trade deals in the next two years, covering 50 developed economies, Goyal said. India recently signed a free trade agreement with New Zealand, Oman, and the UK and is engaged in trade talks with several other countries.
"Going forward, as new trade agreements come into effect, opportunities will continue to expand," Goyal said on the sidelines of another event. "Despite the conflict in West Asia, there is tremendous enthusiasm among Indian exporters. If you look at the April (exports) figures, in the first three weeks itself, our exports have grown significantly compared to last April," Goyal said. India had exported goods worth $38.28 billion in April last year. End
US$1 = INR 94.85
Reported by Krity Ambey
Edited by Saji George Titus
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