The Ministry of Commerce & Industry announced the launching of negotiations for the expansion of the India-MERCOSUR Preferential Trade Agreement on September 14, 2026. Union Minister of Commerce and Industry of India, Piyush Goyal, and the Minister of Foreign Affairs of the Oriental Republic of Uruguay, Mario Lubetkin (representing MERCOSUR's Pro Tempore Presidency), jointly made this announcement. Both parties have agreed to expand the current Agreement to cover additional areas of mutual interest, with the objective of further deepening their economic relations and creating greater benefits and opportunities for their respective private sectors. The Republic of India and MERCOSUR are currently in the process of finalizing the Terms of Reference, which will define the precise scope and structure of the future expanded agreement.