On May 5, 2023, Union Minister of Commerce and Industry Piyush Goyal convened a meeting with senior officials and chief negotiators to evaluate the progress of India's Free Trade Agreements (FTAs). The meeting aimed to identify strategies to enhance India's export capabilities and strengthen its position in global value chains. India has significantly expanded its trade network, currently having nine FTAs with 38 countries. The expansion started with the India-Mauritius agreement in 2021 and includes notable agreements such as the India-UAE Comprehensive Economic Partnership Agreement and the India-Australia Economic and Trade Agreement. These FTAs are designed to benefit various stakeholders, including farmers, entrepreneurs, and professionals, by providing access to developed markets and creating opportunities for Indian talent. The Ministry of Commerce emphasized that these agreements are negotiated with a focus on openness while safeguarding sensitive sectors. The overarching goal is to facilitate trade transformation and contribute to India's aspiration of becoming a developed nation by 2047.