HT Correspondent
DIBRUGARH, Feb 17: Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Tuesday said India’s emergence as a major global trade player reflects Prime Minister Narendra Modi’s leadership, which he said has expanded international market access while safeguarding the interests of farmers and domestic industries.
Addressing a press conference here, Sonowal said India has moved since 2014 from what he described as a “defensive trade posture” to a more confident and strategically negotiated global engagement.
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He said nine major free trade agreements concluded in recent years have secured preferential access for Indian goods to 38 developed nations across Europe, the Gulf, Oceania and North America, accounting for about 30 per cent of India’s export value.
According to him, these agreements have opened nearly 70 per cent of global trade markets to India.
Referring to the India–US interim trade agreement framework, Sonowal said it aims to raise bilateral trade to $500 billion annually and reduce tariffs on Indian goods while providing zero-duty access for sectors such as pharmaceuticals, gems and jewellery, aircraft parts and selected agricultural products. He added that most sensitive farm products remain protected under the arrangement.
He also cited the India–EU free trade agreement signed recently, stating it will provide preferential access for the vast majority of India’s exports to 27 European countries and benefit labour-intensive sectors such as textiles, leather and footwear, while also opening multiple services sectors.
Similarly, he said the India–UK comprehensive economic agreement ensures duty-free access for nearly all Indian exports and expands opportunities for Indian professionals in services industries.
Agreements with Oman and New Zealand also provide broad duty-free access and investment opportunities.
Sonowal said these trade deals represent a structural shift in India’s global economic positioning and reflect growing confidence among entrepreneurs, MSMEs and young professionals.
Highlighting Assam’s prospects, he said tea exports have regained zero-duty access in the US market, leading to significant growth in shipments.
He added that sectors such as spices, specialty rice, handloom, handicrafts, bamboo products and petrochemicals are also expected to benefit from expanded global access, with the state’s exports projected to cross ₹10,000 crore by 2026–27.
