India Finance News

Commerce Ministry to review existing free trade agreements: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Monday said his ministry will review all existing free trade agreements (FTAs) with different countries to protect interest of industry and traders.
Addressing domestic traders here, he said India also decided to walk out from the Regional Comprehensive Economic Partnership agreement, keeping in view the interest of small traders and dairy industry.

Goyal said that FTAs with countries like Japan, South Korea, and Asean provided duty-free access to Indian markets, but domestic goods face barriers in these countries.
These unfair pacts did not benefited Indian traders and industry, he said.
“I want to assure you that the commerce ministry will open the old FTAs and hold discussions with these countries,” the minister said.
Speaking about the forthcoming Assembly elections in the national Capital, he appealed traders to support BJP as the AAP government has not fulfilled its promises.
If the BJP would come to power in Delhi, it would stand with traders and work to protect their interests, he said.
Goyal alleged that the Arvind Kejriwal-government creates hurdles in the implementation of central government schemes in the Capital. The kind of politics which AAP is doing in Delhi would not help traders, he added.

Source: Business Standard

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