India's Commerce and Industry Minister Piyush Goyal stated that free trade agreements with developed markets like Australia, UAE, and UK will offer increased market access to the Indian agricultural sector.
Despite the global economic slowdown, India's agriculture, animal husbandry, and fishery exports amounted to Rs 4 lakh crore.
India has already implemented trade agreements with Australia and the UAE in 2022. Additionally, an FTA with the European Free Trade Association (EFTA) is expected to be implemented later this year.
A trade pact with the UK was recently announced and is anticipated to be signed soon. EFTA comprises Iceland, Liechtenstein, Norway, and Switzerland.