Use FTAs to build joint ventures explore investment opportunities CII President to industry

     Vishakhapatnam, Nov 12 (PTI) CII President R Mukundan on Thursday urged the domestic industry to use free trade agreements (FTAs) finalised by India to build joint ventures, explore investment opportunities, and develop long-term commercial partnerships.

Speaking at CII's Partnership Summit 2026 here, he said the global economy is at a critical juncture, facing geopolitical tensions, elevated energy prices and uncertainty in trade.

India, however, has remained a bright spot in the global economy, growing at over 7 per cent over the last three financial years, he said.

Mukundan said India's expanding network of Free Trade Agreements (FTAs), including recent agreements with New Zealand, the UK, and EFTA, alongside the anticipated India-EU FTA, is expected to further reinforce this momentum.

"Our expanding network of FTAs provides a strong foundation for deeper economic engagement. I encourage businesses across participating countries to use these agreements to build joint ventures, explore investment opportunities, strengthen cross-border value chains and develop long-term commercial partnerships," he said.

As the government is committed to 'Making AI in India and Making AI Work for India', the industry should deepen international collaboration in emerging technologies, including AI, nanotechnology and biotechnology, alongside cooperation in cybersecurity, data protection and responsible AI governance, he said.

" Interoperable digital payment systems can further facilitate seamless, cost-effective cross-border transactions and promote financial inclusion," he said.

On renewable energy sector, the CII President said with over 50 per cent of India's installed electricity capacity now coming from non-fossil sources, there is a need to deepen cooperation in transmission infrastructure, battery storage and solar manufacturing.

Amid the geopolitical uncertainties, countries must also diversify energy supplies, strengthen strategic reserves and collaborate on critical minerals to build resilient supply chains and accelerate the clean energy transition, he added.

In advanced manufacturing, India offers significant opportunities for global businesses across electronics, semiconductors, electric mobility, advanced materials and industrial machinery, Mukundan said.

"We encourage investment through joint ventures, technology partnerships and R&D, leveraging policy support such as the PLI framework," he said adding "We should strengthen cooperation across agricultural value chains to ensure reliable supplies of fertilisers and critical inputs through long-term agreements, joint investments and storage infrastructure".

India has implemented free trade agreements with countries including the UAE, Oman, New Zealand, the UK and Australia.

(This story has not been edited by THE WEEK and is auto-generated from PTI)