Five FTAs to be operational this year, says Piyush Goyal at EPM launch
New Delhi, Feb 20, 2026
Piyush Goyal said FTAs with the UK, Oman, New Zealand and the EU will be implemented this year as India launches new schemes under the Rs 25,060 crore Export Promotion Mission to boost exports
Commerce and Industry Minister Piyush Goyal on Friday said that five free trade agreements (FTAs) finalised by India will be operationalised this year.
Trade agreements with the UK and Oman are likely to be implemented in April while the pact with New Zealand may come into force in September. The interim trade deal with the US will also be operationalised in April. The EU also wants to implement the trade deal as early as possible, the minister said while announcing the rollout of seven schemes under the ₹25,060 crore Export Promotion Mission (EPM).
The deal with the trade bloc was finalised last month. FTA with the UK and Oman were signed in May and December, respectively. The conclusion of talks on FTA with New Zealand was also announced in December.
After finalising the terms of reference (ToR), India and Israel will launch FTA negotiations next week in Delhi. 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.
While launching the seven additional interventions under the EPM, Goyal said that the missions aimed at promoting new products and services while enabling Indian businesses to access new markets. These interventions are designed to address key challenges faced by Indian exporters, promote broad-based and inclusive export growth, simplify processes for MSMEs (micro, small, and medium enterprises), and strengthen access to credit, the minister said.
To drive access to trade finance, MSMEs will receive 2.5 per cent interest subvention on export factoring transactions through recognised entities and capped at ₹50 lakh annually. For credit assistance for e-commerce (ecom) exporters, a direct ecom credit facility will provide support up to ₹50 lakh, with 90 per cent guarantee coverage. In order to offer support for emerging export opportunities, exporters can access new or high-risk markets through various shared-risk and credit instruments.
In order to help exporters expand market access, the government launched four interventions — Trade Regulations, Accreditation & Compliance Enablement (TRACE), Facilitating Logistics, Overseas Warehousing & Fulfilment (FLOW), Logistics Interventions for Freight & Transport (LIFT), and Integrated Support for Trade Intelligence & Facilitation (INSIGHT).
TRACE will reimburse 60-75 per cent eligible testing, inspection, and certification cost, up to ₹25 lakh per importer-exporter code (IEC). FLOW will provide up to 30 per cent of approved project cost for a maximum of three years, subject to certain conditions.
LIFT will mitigate geographical disadvantages faced by exporters in low export intensity districts. Partial reimbursement of up to 30 per cent of eligible freight expenditure will be provided by the government, subject to a ceiling of ₹20 lakh per IEC per financial year. INSIGHT will offer financial assistance up to 50 per cent of project cost, with up to 100 per cent support for proposals from central and state government institutions and Indian missions abroad, subject to notified ceilings.
“The newly launched interventions aim to address structural constraints faced by MSMEs, including high cost of capital, limited access to diversified trade finance instruments, compliance burdens in international markets, logistics disadvantages, and barriers to market entry,” an official statement said.
[The Business Standard]
