India Targets Global Capital Through Major Trade Pacts

Union Commerce and Industry Minister Piyush Goyal announced on June 4, 2026, that India will operationalize two to three substantive free trade agreements within six months, with all nine agreements finalized over the last three and a half years expected to be in effect within ten months. Speaking at the Citi India Conference 2026 in Mumbai, Goyal declared that India will remain the world's fastest-growing economy for over two decades. He cited the success of companies like Hyundai and JCB to encourage global investors to provide patient capital for India's transition toward advanced manufacturing.

Citigroup CEO Jane Fraser expressed confidence in India's long-term prospects during the same conference, urging the country to stop selling itself short despite short-term headwinds. Fraser noted that Citigroup's institutional business in India saw a 35 percent increase in net income following its 2023 retail exit. She highlighted digital identity systems, AI, and the national payments network as critical growth drivers. Additionally, Citi India CEO K Balasubramanian expressed optimism regarding a proposed trade agreement with the United States, suggesting it could double the impact of the existing economic corridor.

Simultaneously, Minister of State for Commerce and Industry Jitin Prasada inaugurated the Global Business Research Conference in New Delhi. Prasada attributed India's economic resilience to Prime Minister Narendra Modi's long-term vision for semiconductors, artificial intelligence, and global trade partnerships.