Union Minister Piyush Goyal on Friday said India has reached the “advanced stages of discussion” with Chile and continues trade negotiations with Canada and the United States to finalise new trade agreements. His remarks came days after India concluded trade negotiations with the European Union on a Free Trade Agreement (FTA).
Calling the India-EU FTA the “mother of all deals,” Goyal said India now aims to close similar free trade agreements with the US and other countries. Speaking to news agency ANI, the Union Minister said India evaluates every FTA on its own merits and takes decisions after carefully weighing the advantages and disadvantages.
Goyal clarified that no trade agreement depends on another and that India does not negotiate deals under fixed deadlines. He said the government has initiated “very meaningful discussions” with several countries.
“I can assure you with complete confidence that India will open new markets while protecting its own interests,” Goyal said. He added that the government will continue to sign new trade agreements while safeguarding the interests of farmers, fishermen and small-scale industries.
The Union Minister reiterated that discussions with Chile have progressed significantly, while talks with Canada and the US remain underway. He also announced that India will begin trade discussions with the six countries of the Gulf Cooperation Council (GCC) very soon.
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Goyal hails India-EU FTA as landmark deal
Praising the India-EU Free Trade Agreement, Goyal described it as a landmark deal that places India at the high table of global geopolitics. He said the agreement offers a win-win outcome and will drive economic growth while creating new opportunities for Indian businesses and citizens.
Goyal added that countries across the world now view India as a preferred trading partner and strategic ally. He said that while India remained cautious about such agreements in the past, the country under Prime Minister Narendra Modi now aims to become a developed nation and achieve the vision of “Viksit Bharat” by 2047.
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