FTA India and EU FTA likely by next year: Piyush Goyal
Indian and the European Union will be able to conclude a free trade agreement (FTA) by next year, Commerce and Industry Minister Piyush Goyal has said, according to media reports
Speaking at an event organised by the IMC Chamber of Commerce, Goyal said the country has already signed FTAs with the UAE and Australia, and negotiations are underway with other countries or blocs such as countries or blocs including the EU, UK, Canada, and Gulf Cooperation Council (GCC).
Goyal said that a delegation from Italy including its foreign minister is in New Delhi now with which he will hold talks.
India and UK have already held three rounds of deliberations and a fourth-round is likely soon, and he is meeting the representatives on May 26-27.
India is focusing on fair, equitable, and win-win partnerships with other countries or blocs to push growth and increase employment in the country, he said.
India has USD 38 billion in exports in April, and looking at the figures closely, it appears that India is emerging as a manufacturing hub for high-class products, he said.
GST collections of over Rs 1.67 lakh crore in March reflect that the economic activity is back, he said.
Goyal said the country could attract foreign direct investment of USD 82 billion in 2021, its highest ever, due to stability, rule of law, democracy and stable policies, which attract businesses.
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