Commerce Ministry lists progress on free trade pacts, robust startup growth

New Delhi: Union Commerce and Industry Minister Piyush Goyal has said that the number of government-recognised startups crossed the two-lakh mark, apart from highlighting progress on free trade agreements (FTAs) and bilateral engagements.

The minister outlined key developments from the Ministry of Commerce and Industry over the past 10 days on the social media platform X, highlighting progress on FTA, bilateral engagements and domestic industry milestones.

"The ministry held high-level discussions with the EU's Commissioner for Trade and Economic Security, Maros Sefcovic, to provide strategic direction to the FTA negotiating teams as both sides strive for an early conclusion of the agreement," the minister highlighted.

He also met Claudia Sanhueza, Treasury Undersecretary in Chile’s foreign ministry, following the successful conclusion of the fourth round of the India-Chile CEPA negotiations.

Both sides reviewed the substantial progress made during the talks and reaffirmed their commitment to concluding the agreement at the earliest.

The minister also met Maxim Reshetnikov, Russia's Minister of Economic Development, to discuss cooperation across sectors, including food and agriculture, pharmaceuticals, textiles and automobiles.

“The total number of government-recognised startups has crossed the 2-lakh mark at a total of 2,01,335. These startups have created over 21 lakh jobs across the country. More than 48 per cent of the recognised startups in India have at least one woman director,” the minister said in the X post.

Also, "Dakshina Kannada has been designated as a District Export Hub under the Districts as Export Hubs (DEH) initiative," the minister noted.

Seafood and cashew have been added as potential export products, which are expected to further strengthen the local industry, enhance value-added activities, and expand market opportunities for enterprises in the region, Goyal informed.

Earlier this week, Goyal said that Kolhapuri chappal exports could become a $1 billion‑a‑year opportunity, after Italian fashion house Prada announced plans to produce limited‑edition, Kolhapuri‑inspired sandals in India.

Goyal also reiterated India’s commitment to a free trade agreement with the EU, adding that the country seeks deeper industrial and economic ties with Italy across R&D, technology, defence, textiles, agriculture and food processing.