Shri Piyush Goyal announces FTA with EFTA, ODOP progress, and ‘Vocal for Local’ at UP Trade Show.
Union Minister of Commerce & Industry, Shri Piyush Goyal, announced that the Free Trade Agreement (FTA) with EFTA nations, Iceland, Liechtenstein, Norway, and Switzerland, will come into effect from October 1, 2025.
Speaking at the valedictory session of the UP International Trade Show, he highlighted India’s expanding global trade engagements, including ongoing discussions with the US, EU, New Zealand, Oman, Peru, and Chile, while Terms of Reference with Eurasia have been finalised.
Shri Goyal emphasised India’s economic transformation, noting a GDP growth of 7.8%, inflation at 2%, and foreign exchange reserves of USD 700 billion. He underlined the role of the One District, One Product (ODOP) initiative, now covering over 750 districts and more than 1,200 products, boosting khadi, cotton, and cottage industries.
Highlighting Uttar Pradesh’s industrial growth, Shri Goyal announced plans for Unity Malls in the state to showcase local products. Urging adoption of swadeshi goods, he described the trade show as a platform reflecting “Vocal for Local, Local Goes Global,” strengthening MSMEs, women entrepreneurs, and export-oriented units.
