In the new year 2026, India will move forward on the path of rapidly shaping FTAs with major countries of the world. Expect that the FTAs in the new year will make India a new economic power in exports, services, investment, technical cooperation and movement of professionals and will take the country on the path to becoming the world's third largest economy by the year 2027 and a developed nation by the year 2047.
India's exports registered a growth of 15.52 percent
Union Cabinet approves India-New Zealand FTA
Dr. Jayantilal Bhandari. India's exports have shown an increasing trend amid Trump's tariff challenges and uncertainties on the global trade front. Between November 2024 and November 2025, India's total exports increased from $ 64.05 billion to $ 73.99 billion. There has been a strong growth of 15.52 percent in exports. Free trade agreements i.e. FTAs are believed to play an important role behind this. With FTAs taking shape with the US, EU and many other countries in the new year, India's exports will reach new heights and India's trade deficit concerns will be reduced.
In this background, on December 19, the Union Cabinet has approved India-New Zealand FTA. Both the countries started negotiations on FTA 14 years ago. This FTA will help in increasing trade in goods and services as well as investment flows and strengthening the supply chain. It is also expected to create new opportunities in sectors like agriculture, food processing, renewable energy, pharma, education and services. Earlier, an FTA has been signed with Oman on 18 December. This FTA is officially called the Comprehensive Economic Partnership Agreement (CEPA).
Under this FTA, 98 percent of India's exports will get zero-rated access to Oman. This includes more than 99 percent of exports to Oman. This is expected to be of great benefit to India's textile, gem-jewellery, medicine, vehicle, agricultural products and leather industries. In particular, the five percent duty currently levied in Oman on exports worth about $3.64 billion from India will be reduced to zero. In return, India has ensured reduction in import duty on various products coming from Oman. India has offered duty leniency on about 78 percent of its tariff lines. In such a situation, the duty on 95 percent of the products from Oman to India will be less in terms of value. These include dates, marble and petrochemical products. Certainly there are many important things in India's interest under this FTA.
India has also taken some strict steps to protect domestic interests. India also has interests in the FTA on professional mobility. For the first time, Oman has given comprehensive concessions on the movement of Indian professionals. The quota for ‘intra-corporate transferees’ has been increased from 20 percent to 50 percent. The time period for companies providing services on tender basis has been increased from 90 days to two years. Indian companies in IT, business services, audio-visual, education and health services will now be able to make 100 percent foreign direct investment in Oman. After implementation of FTA, India's product and service exports to Oman will increase and India's adverse trade imbalance will reduce. The use of Oman's modern ports will significantly reduce the time and cost of shipping goods to Eastern Europe, thereby enhancing the global competitiveness of Indian exporters.
During the Modi government, progress has been made on FTAs with Mauritius, UAE and Australia. From October 1, the FTA between India and the European Free Trade Association (EFTA), a group of four European countries Iceland, Switzerland, Norway and Liechtenstein, has also come into force and exports to the EFTA countries have started increasing. In this sequence, FTA between India and Britain is also important. Now in the new year 2026, FTAs will be seen taking shape with other major countries and parties including America, European Union, Peru, Chile, ASEAN, Mexico, Canada, South Africa, Israel, India-Gulf Countries Council. FTAs with these countries will not only include product exports but will also include exports related to the service sector scenario. As India's expertise in service exports continues to grow, there will be increased opportunities for Indian trained workers and professionals to work in FTA countries, while India's service exports will have higher earning potential.
In view of the benefits of FTA for India, the new labor laws coming into effect from April 1 will prove to be a milestone. The much-awaited four new labor codes notified by the Central Government will provide relief to workers as well as industries and businesses. These labor laws are the most comprehensive and progressive labour-oriented reforms since independence. The new labor laws will create an ecosystem for the future that will protect workers' rights and provide industry and businesses with the hope of reaping maximum benefits from FTAs.
In the new year 2026, India will move forward on the path of rapidly shaping FTAs with major countries of the world. Expect that the FTAs in the new year will make India a new economic power in exports, services, investment, technical cooperation and movement of professionals and will take the country on the path to becoming the world's third largest economy by the year 2027 and a developed nation by the year 2047.
Thought: Free trade will open the way to progress
Thoughts: The Year of the World's Change
Jagran Editorial: Bangladeshi Hindus in crisis
विचार: सूरा सो पहचानिये, जो लरै दीन के हेत
Thought: Make India the leader of the world, possible only with the motto of 'Nation First'
Threat to India increases in Bangladesh, situation is worsening
SIR issue echoed in Bengal rally, PM cornered Mamata
Idea: Global acceptance of Indian heritage, opportunity to introduce the world to cultural power
Idea: Time to make a concerted effort towards meaningful initiative of reform in higher education, better implementation
Editorial: Bangladesh plunged into anarchy, the country seems to be moving towards suicide.
Opinion: Rahul's limitations, Priyanka's possibilities
Opinion: Time to press China's sore spot, it is necessary to give the right response to aggression and threats.