GCC-INDIA TIES: Talks On For New Trade Pact

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Outside the GCC, India is conducting FTA-related talks with the United Kingdom, Australia, and the European Union, reports Asian Lite News

India’s discussions for concluding a Free Trade Agreement (FTA) with the GCC are “progressing fast,” the Minister for Commerce, Industry, and Consumer Affairs, Piyush Goyal, said yesterday.

Addressing a large cross-section of India’s business through the platform of the Jain International Trade Organisation, Goyal specifically cited the UAE as among the countries with which his Ministry is engaged in talks towards reaching an FTA.

Outside the GCC, India is conducting FTA-related talks with the United Kingdom, Australia, and the European Union.

The pace of discussions has now gathered speed, Goyal said. Traders and exporters are the “twin pistons powering the economic growth engine of India. We firmly believe in the capabilities of the business community as well as of start-ups.”

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The FTAs will enable India to become a global “trading hub,” Goyal hoped.

The Jain International Trade Organisation is conducting a 12-day virtual expo with the participation of several thousand businesses and entrepreneurs.