Commerce and Industry Minister Piyush Goyal has said that he will visit Canada in May to accelerate negotiations for a proposed free trade agreement (FTA). On March 2, the two countries launched negotiations for a comprehensive economic partnership agreement (CEPA).

Talking about other trade pacts, the minister said negotiations are going slow with the six-nation bloc of Middle Eastern nations and the Gulf Cooperation Council (GCC) due to ongoing West Asia conflict. He said FTA discussions are going on with Chile (Chilean), whose minister is scheduled to visit India on May 12 and discussions with Peru are also progressing. He said ‘we will open the other four markets also, Bahrain, Qatar, Saudi Arabia and Kuwait.’ He said ‘we are also talking to Eurasia, SACU (South Africa Customs Union), upgrading PTA (preferential trade agreement) with Brazil, and other Mercosur countries.’

In February, India and the GCC started negotiations for a proposed FTA. GCC is India's largest trading partner bloc, which accounted for 15.42% of India’s global trade in FY 2024-25. India's exports to the GCC grew by about one per cent to $57 billion in 2024-25 against $56.32 billion in 2023-24. Imports rose by 15.33 per cent to $121.7 billion in 2024-25 from $105.5 billion in 2023-24. Bilateral trade has increased to $178.7 billion in 2024-25 from $161.82 billion in 2023-24. The grouping members are Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain. India has already implemented a free trade pact with the UAE in May 2022. India and Oman also signed a Comprehensive Economic Partnership Agreement (CEPA) in Muscat on December 18, 2025.