Commerce and industry minister Piyush Goyal on Tuesday held a meeting to review the ongoing negotiations on different Free Trade Agreements (FTAs) to fast-track the talks in order to boost exports and investments.
Deliberations on ways to fast-track negotiations are on “to achieve mutually beneficial FTAs, paving the way for increased exports, investments & people to people ties”, according to a tweet by Goyal’s office.
India is negotiating trade agreements with countries including the UK, Canada, Israel and European Union. Talks with the UK are expected to conclude this month.
In a trade pact, two or more countries either significantly reduce or eliminate customs duties on the maximum number of goods traded between them. Besides, they also relax norms to promote trade in services and attract investments.
India has so far implemented trade pacts with nations including the UAE, Singapore and Japan.
