Commerce and Industry Minister Piyush Goyal. File | Photo credit: PTI
Commerce and Industry Minister Piyush Goyal said on Wednesday (Dec 10, 2025) that talks on free trade agreements (FTAs) with Oman and New Zealand are in their final stages and both are expected to be concluded soon. He also indicated that negotiations on a trade pact with the South American country of Chile will also be concluded soon.
India is strengthening international trade partnerships through free trade agreements
Improving market access and promoting global value chain integration.
India has progressed several trade negotiations in 2025, including with EU, US, Australia, GCC, Korea, Chile, Peru and Maldives.
These… pic.twitter.com/LQheTXamG5
— Dept of Commerce, GoI (@DoC_GoI) December 10, 2025
Talks on the pact with Oman are in their final stages, Mr Goyal said, adding that New Zealand’s Trade Minister Todd McClay is visiting New Delhi on Friday (Dec 12, 2025) to discuss FTAs as they are also nearing their final stages.
Meanwhile, the Commerce Department said in a statement that after three rounds of intensive negotiations from November 2023 to March 2024, the two sides reached an agreement on all components of the Comprehensive Economic Partnership Agreement (CEPA), including the text and market access offers.
A cabinet proposal submitted in March 2024 was shelved, leading to further new negotiations. The fourth round on September 2024 and the fifth round on 13 and 14 January 2025 focused on revised offers.
“After approval by the competent authority, the draft government note has been sent to relevant ministries for signature and ratification. Both parties are now in the process of securing internal approvals,” it added.
On the trade deal with Israel, Mr Goyal said recently that he had met Israeli Economy and Industry Minister Nir Barkat and both sides had named their chief negotiators for the proposed pact.
Last month in Tel Aviv, the two countries signed the terms of reference (ToR) to formally begin negotiations on the agreement. “We hope the first phase will happen with Israel,” Goyal told reporters in Jaipur.
Mr Goyal was here to attend the Pravasi Rajasthani Divas. He added that in the past few days, we have “held” a number of meetings with leaders of various countries on trade-related issues.
“India has become an attractive destination for trade and global investors. Several countries are interested in entering into trade pacts with India,” Goyal added.
The ministry also said India and Israel have been negotiating a free trade agreement since 2010 and have completed ten rounds covering 280 tariff items or product categories.
Although the two sides agreed to resume talks in October 2021, progress has stalled due to Israel’s reluctance to provide meaningful access to the services market that India seeks, particularly for the temporary movement of IT professionals and highly skilled workers.
“Negotiations have since resumed and in November 2025, India and Israel signed the terms of a proposed FTA, paving the way for a formal resumption of discussions,” the statement said. She further said that the terms of the India-Maldives Free Trade Agreement for the trade pact were signed on July 3, 2025 in Male.
The terms of reference set the framework and scope for the upcoming negotiations on a free trade agreement. Negotiations have begun on the agreement.
India and Qatar are also finalizing the ToR to start talks on a free trade pact. A similar exercise is also underway between India and the Gulf Cooperation Council (GCC).
Major milestones achieved in @DoC_GoI in 2025 under the dynamic leadership of the PM @NarendraModi her:
🔷 Total exports (goods and services) to reach an all-time high of $825.25 billion in 2024-25, representing 6.05% annual growth, despite global uncertainty.
🔷 India – Great Britain… pic.twitter.com/3lYvZ2tLr7
— Piyush Goyal (@PiyushGoyal) December 10, 2025
Published – 10 Dec 2025 16:45 IST
