Multiple FTAs ongoing with India: Finance Minister

India has recently concluded a Free Trade Agreement (FTA) with Australia, and has further extended quota-free and tariff-free regimes to Least Developed Countries

April 11, 2023

India had FTAs both in goods and services with ASEAN countries, UAE, and Mauritius

The India-UK Free Trade Agreement talks were launched on June 17, 2022

India has historically pursued free trade agreements either bilaterally or with multilateral groups

India has historically pursued FTAs either bilaterally or with multilateral groups

Multiple free trade agreements (FTAs) are being signed quickly, with the India-UK FTA negotiations ongoing, talks for which had begun in June last year, according to Union Finance Minister Nirmala Sitharaman speaking at the Peterson Institute for International Economics (PIIE) in the US.

Sitharaman mentioned that India has recently concluded an FTA with Australia, and has further extended quota-free and tariff-free regimes to Least Developed Countries. She said that India has shown very clearly its desire to pursue trade with multilateral groups and agreeing to have FTAs with them. India had FTAs both in goods and services with ASEAN, UAE, Mauritius, and further agreements with Korea and Japan. 

India has historically pursued FTAs either bilaterally or with multilateral groups. According to Sitharaman, India has continued to follow this approach and has recently signed at least three major agreements between 2019 and now. She specifically mentioned that ongoing negotiations for FTAs are also taking place with the European Union and Canada. 

Source: Economic Times

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