NEW DELHI: Union Minister of Commerce and Industry & Railways
Piyush Goyal assured that India will never finalize any trade agreement
in a hurry. During trade negotiations the focus will be on India first
said the Minister while addressing a press conference, on the decision
taken by India on the Regional Comprehensive Economic Partnership
(RCEP), in New Delhi.
He said that India’s economic interests and national priorities come
first and the concerns of the farmers, dairy sector, MSMEs and domestic
manufacturing will be addressed and these sectors will be protected.
Commerce and Industry Minister informed that throughout the seven year
long negotiations in RCEP India has consistently stood its ground to
uphold its demands particularly over controlling trade deficit, stronger
protection against unfair imports and better market opportunities for
Indian goods and services. The opening up of the Indian market must be
matched by openings in areas where our businesses can benefit and India
will not allow its market to become a dumping ground for goods from
other countries said the Minister.
Commerce and Industry Minister further informed that the Free Trade
Agreements (FTAs) with Japan, South Korea and ASEAN countries are being
reviewed. The review of the FTA with South Korea, which began 3 years
back, is being fast tracked. He further informed that India has already
secured agreement in ASEAN for a review of the FTA and a Joint Working
Group (JWG) is discussing the issues to be addressed in Japan FTA.
Replying to questions Commerce and Industry Minister informed that at
present India is exploring trade agreements with the USA and European
Union, where Indian industry and services will be competitive and
benefit from access to large developed markets.
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