---
title: "FTAs must drive exports, not just imports: Commerce Minister Piyush Goyal"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286946351.md"
description: "Commerce Minister Piyush Goyal emphasized the need for Indian industries to leverage free trade agreements (FTAs) to boost exports, warning against a rise in imports. With the FTA with Oman set to launch on June 1, Goyal urged exporters to engage proactively. He noted that imports have outpaced exports in past agreements, particularly with the UAE. Goyal called for increased exports in value-added products and acknowledged the necessity of certain imports for economic growth, urging industries to adapt to global challenges as opportunities."
datetime: "2026-05-19T05:45:37.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286946351.md)
  - [en](https://longbridge.com/en/news/286946351.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286946351.md)
---

# FTAs must drive exports, not just imports: Commerce Minister Piyush Goyal

Commerce Minister Piyush Goyal urged Indian industry to ensure it leverages the new opportunities arising out of India’s free trade agreements to boost exports rather than allowing only imports to rise.

“Unless Indian industries strengthen global engagements, invite investments, and promote exports, we can jolly well end up in a situation where more imports come in,” Goyal said on Tuesday.

The comment comes ahead of the expected rollout of India’s free trade agreement with Oman on June 1. Trade deals with the United Kingdom, the European Union, and New Zealand are also likely to become operational later this year.

“Every few months an FTA will come into force,” Goyal said at ASSOCHAM’s India Business Reform Summit in Delhi. He suggested that exporters conduct sampling and trial orders to deepen engagements even before the deal comes into effect.

India has a record of imports outpacing exports after the implementation of several trade agreements with partner countries, including the new-generation pact with the United Arab Emirates, as well as agreements signed over the past decade with ASEAN and South Korea.

While India’s exports to the UAE have risen by $13 billion over the past four years, imports have increased by $24 billion. Meanwhile, the trade imbalance with the Association of Southeast Asian Nations and South Korea has become so pronounced that the government has already sought a review of the agreements.

“I am looking for greater exports in value-added products, automobiles, and auto components, for example,” Goyal said. “We are looking for greater exports in electronics finished goods and consumer goods.”

At the same time, the minister acknowledged the importance of certain imports for India’s economic growth. “If we need high-quality precision goods, they will need to be imported. They are enablers for India’s growth story, and I don’t think we should be worried about such productive imports,” he said.

Goyal also asked the industry to view the current global situation and geopolitical uncertainties as an opportunity for India to strengthen business processes, undertake faster reforms, build greater resilience, and strengthen supply chains.

### Related Stocks

- [03184.HK](https://longbridge.com/en/quote/03184.HK.md)
- [83404.HK](https://longbridge.com/en/quote/83404.HK.md)
- [02836.HK](https://longbridge.com/en/quote/02836.HK.md)
- [INDA.US](https://longbridge.com/en/quote/INDA.US.md)
- [09404.HK](https://longbridge.com/en/quote/09404.HK.md)
- [03404.HK](https://longbridge.com/en/quote/03404.HK.md)

## Related News & Research

- [RBI decides against imposing additional capital buffer on banks](https://longbridge.com/en/news/286783454.md)
- [India raises export duty on petrol, cuts those on diesel and aviation fuel](https://longbridge.com/en/news/286599720.md)
- [Đồng Tháp seeks support for durian, jackfruit testing to sustain exports](https://longbridge.com/en/news/286495204.md)
- [Chinese EV exports surge as US moves to tighten ban](https://longbridge.com/en/news/286643301.md)
- [07:03 ETHaier sa ôsmy rok po sebe umiestňuje v rebríčku Kantar BrandZ Top 100 ako jediná značka ekosystému IoT na svete](https://longbridge.com/en/news/286900700.md)