FTAs with Australia, UK, UAE on fast track: Piyush Goyal

Signaling a new focus on expediting FTAs with key countries, Commerce and Industry Minister Piyush Goyal has underlined that talks for the proposed free trade agreements (FTAs) with countries, including Australia, the UK and the UAE, are moving at a fast pace.

These FTAs pacts, when implemented, would help provide greater market access to domestic goods, Mr Goyal said on November 14. The minister added that talks for free trade agreements are going on with Australia, UAE, GCC (Gulf Cooperation Council), European Union, Israel and the UK.

When these agreements would be finalised, it would provide “greater access to our manufactured goods as there will be less or zero customs duties,” the minister said.

At another event, while inaugurating the 40th India International Trade Fair, Mr Goyal said the world takes India as a trusted global partner in maintaining global supply chains. India is on historical high of exports of goods and services, he said.

Mr Goyal said added the lockdown, India did not default on any service support to the global community. India has been witnessing historic high of FDIs, the highest ever FDI in first 4 months. It’s 62 per cent higher than samw period last year. IITF will show India is back in business, he added.

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