At least two more FTAs can be signed in 2023: Mr. Piyush Goyal
- IBEF
- December 30, 2022
Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Mr. Piyush Goyal stated, he is expecting that at least two more free trade agreements (FTAs) will be signed up in 2023. Currently, negotiations are scheduled with the UK, European Union and Canada.
While inaugurating the event for operationalisation of the India-Australia Economic Cooperation and Trade Agreement (ECTA), Mr. Piyush Goyal informed that January 2023 is occupied with meetings between Indian Commerce Ministry officials and their counterparts abroad. He further stated that ECTA will benefit a lot of sectors like textiles, gems and jewellery, etc. IT companies in India are also expected to grow to US$ 1 billion in the next 5-7 years. The bilateral trade between India and Australia is expected to increase to US$ 31 million in five years. Indian industry must get enough time to mature and develop itself and be able to compete on fair terms.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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