India's Free Trade Agreement with the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway, and Switzerland, will take effect on October 1, 2025, Union Minister of Commerce and Industry Piyush Goyal announced at the UP International Trade Show. The agreement, which will be finalized in March 2024, represents another significant milestone in India's growing global trade engagement.

Goyal emphasized that developed countries are actively seeking free trade agreements with India, building on agreements already signed with the UAE, Australia, and the United Kingdom. "India's foreign exchange reserves have reached $700 billion," Goyal stated, emphasizing India's strong macroeconomic position.

He confirmed that India is currently in trade talks with the United States, the European Union, New Zealand, Oman, Peru, and Chile, with Qatar and Bahrain also expressing interest. The Terms of Reference with the Eurasian region have been finalized, reflecting "India's strong global standing," he stated.

Piyush Goyal hailed the recent Goods and Services Tax reforms implemented during Navaratri as "the biggest reform since Independence," citing Prime Minister Narendra Modi's leadership for the transformation. "The impact will be felt for decades," he added.

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The ODOP program, which is now operational in over 750 districts, includes more than 1,200 products promoted both domestically and globally.

To support these efforts, unity malls will be built in each state, with three in Uttar Pradesh: Lucknow, Agra, and Varanasi. "Every product carries the blood and toil of Indian workers," Piyush Goyal said, calling for increased adoption of swadeshi goods and support for MSMEs and women entrepreneurs through platforms such as the UP International Trade Show.