Many nations keen on fast-tracking FTAs with India: Piyush Goyal

Union Minister Piyush Goyal said that many countries around the globe are now interested in free trade agreements (FTAs) that are being implemented rapidly with India. He pointed out that India is currently not only negotiating but also negotiating with Canada, the European Free Trade Association (EFTA), the United Kingdom and the European Union on FTAs ​​while dealing with the Annual Session of the FTA. Confederation of Indian Industry (CII) 2023, Future Frontiers: Competitiveness, Technology, Sustainability and Internationalization, in New Delhi.

Goyal, Minister of Trade and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, said the past nine years have been unprecedented as inflation has always been kept under control in the 4-quarter range. 4.5% minus a short time. last year. Interest rates in other developed countries are almost on par with India today.

Goyal thinks the current target of reaching $1 trillion in exports of goods and $1 trillion in services is a modest goal. He added that overall exports have been at $500 billion for almost a decade and reached $676 billion last year despite worldwide difficulties. The minister said the total export value of $776 billion in fiscal year (FY) 2022-23 with $450 billion in goods exports and $326 billion in services exports is a commendable national achievement. .

Union Minister Piyush Goyal said a number of countries are eager to accelerate FTAs ​​with India, marking India’s growing global importance. He covered topics such as competitiveness, technology, sustainability and internationalization during the CII Annual Session 2023. Goyal also mentioned a target of $1 trillion per item. and export services.

Fiber2Fashion (NB) News Desk


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