A senior Industries Department official told The Secretariat that the government intends to leverage the Free Trade Agreements (FTAs) signed by India with several countries on a much larger scale. The first major public-facing engagement of VGGS 2027 will be held in New Delhi on August 31. The 11th Vibrant Global Summit will be inaugurated by Prime Minister Narendra Modi on January 10, while the Global Trade Show will be held from January 9 to 13.

According to the official, the Trade Show will feature formats such as Theme-based Exhibitions, International Theme Pavilions, Partnership Pavilions, and BharatHub. Emerging sectors, including artificial intelligence (AI), Quantum Technologies, Biotech, Wellness & Longevity, Spacetech, and Simulations, will receive special focus. 

Focus On FTAs

An Executive Officer of iNDEXTb said that VGGS 2027 will seek to turn FTAs from a discussion point into actual business opportunities, with dedicated strategic engagements. The FTA Opportunity Sessions will focus on potential trade opportunities, target markets, target geographies, and tariff and non-tariff measures. Masterclasses will cover FTA benefits along with Rules of Origin, compliance, trade logistics, export financing, risk mitigation, and quality standards. At the same time, Buyer-Seller Meets will focus on trade deals and work orders, promotion of local products, and helping regional players access global markets.

Pravin Jadhav, Economist at IITRAM, told The Secretariat that the benefits of FTAs for India should not remain limited to tariff reduction. “For India, leveraging FTAs must go beyond tariff reduction. The real challenge is to address non-tariff measures through stronger standards, regulatory cooperation, and Mutual Recognition Agreements (MRAs), enabling Indian firms to access foreign markets with lower compliance costs,” he said.

“The ultimate objective should be to transform preferential market access into greater exports, domestic value addition, global value-chain integration, investment, technology and employment,” Jadhav further said.

For India, leveraging FTAs must go beyond tariff reduction

- Pravin Jadhav, Economist at IITRAM

The state is also planning to directly involve multilateral organisations. Curated sessions involving organisations such as the World Bank, Asian Development Bank (ADB), World Health Organization (WHO), United Nations Children’s Fund (UNICEF), United Nations Conference on Trade and Development (UNCTAD), and World Economic Forum (WEF) have been proposed.

This indicates that the summit is being expanded beyond a state-government-led investment event towards global policy, investment and institutional partnerships.

BharatHub Takes Spotlight

The Global Trade Show, beginning January 9, will showcase Gujarat’s post-VGGS developments, sectoral strengths and achievements. International Theme Pavilions, Partner Country Pavilions, Partnership Pavilions and BharatHub are expected to combine business engagement with a cultural showcase.

Global Outreach

Jaimin Shah, president, The Indus Entrepreneurs (TiE), told The Secretariat that such overseas visits are important for developing sector-specific industrial ecosystems within the state. “Such overseas visits are important for the development of the sectoral ecosystem within the state. They are also a great learning exercise for business representatives. During such visits, they can build new networks, which play a major role in finding partners and clients abroad as well as expanding businesses overseas,” he said.

Meanwhile, Nilesh Jetparia, former president of the Morbi Ceramics Association, told The Secretariat that apart from tariff reductions, FTAs also play a key role in boosting business confidence. “There is an increased sense of comfort. An FTA is an indication that bilateral relations are harmonious,” he said. Jetparia said that before the India-UAE FTA, Indian ceramic products faced a 5% duty along with a 42.5% anti-dumping duty. After the FTA, the burden has come down to 4.5%. “Exports have multiplied after that. We have requested the government to have a similar FTA with Oman as well,” he said.