Mr. Piyush Goyal reviews ongoing FTAs; deliberates ways to fast track negotiations
- IBEF
- August 31, 2022
Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Mr. Piyush Goyal reviewed the status of India's continuing free trade agreement (FTA) discussions. The Ministry said that the discussions were focused on measures to expedite discussions toward mutually advantageous FTAs, paving the way for expanded exports, investments, and people-to-people links.
India is pursuing trade agreements with developed countries such as the United Kingdom, Canada, and the European Union. In July, India and the United Kingdom completed five rounds of negotiations. Last month, Commerce Secretary Mr. BVR Subrahmanyan stated that the India-UK FTA negotiations will be completed by August 31 and the trade agreement would be signed by Diwali, as agreed by Prime Minister Mr. Narendra Modi and his UK counterpart Mr. Boris Johnson.
This year also saw the start of trade talks with the EU and Canada. The fourth round of talks with Canada is set to begin next month, while the third round of talks with the EU is set to begin in October. These trade agreements are consistent with India's revised foreign trade strategy, which aims to send a message to the world that India is open for business.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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