NEW DELHI — Commerce and Industry Minister Piyush Goyal on Monday reviewed the progress of India’s free trade agreement negotiations with senior officials and chief negotiators, as the government looks to expand exports and deepen the country’s role in global supply chains.
Goyal said the meeting focused on ways to encourage more businesses to export from India and unlock the country’s potential to sell world-class products overseas. He added that officials also discussed avenues to strengthen India’s position in global value chains.
The review came as Goyal continued a series of trade-related engagements with key international partners. Earlier Monday, he met a Japanese delegation led by Takayuki Kobayashi, a member of Japan’s House of Representatives and chairperson of the ruling Liberal Democratic Party’s Policy Research Council.
Goyal said the talks focused on strengthening India-Japan economic engagement, expanding partnerships among micro, small and medium enterprises, and deepening cooperation in sectors including automobiles, infrastructure, pharmaceuticals and advanced manufacturing.
The commerce minister has also recently highlighted the role of the India-UAE Comprehensive Economic Partnership Agreement in boosting bilateral trade. He said the agreement has helped create new opportunities for Indian farmers, MSMEs and businesses since coming into effect.
Bilateral merchandise trade between India and the United Arab Emirates has crossed $100 billion, while services trade has also continued to grow, giving Indian companies broader access to new markets.
Goyal also held a virtual meeting with U.K. Secretary of State for Business and Trade Peter Kyle to discuss ways to deepen trade and investment ties. The two sides explored opportunities to make full use of the India-U.K. Comprehensive Economic and Trade Agreement. (Source: IANS)
