After having success in FTA with UAE and Australia in 2022, the Government is expecting at least two more free trade agreements to be signed up in 2023 as negotiations are scheduled with the UK, European Union and Canada.
The meetings are scheduled between Indian Commerce Ministry officials and their counterparts in the UK, EU and Canada next month.
At an event to mark the operationalisation of the India-Australia Economic Cooperation and Trade Agreement, Union Commerce and Industries, Textiles Minister Piyush Goyal said that “India today works from a position of strength, we negotiate with confidence. We will sign at least two such free trade agreements in 2023.”
After handing over certificates of origin to the first among the Indian goods being sent to Australia after the agreement, Goyal said the FTA will benefit a slew of sectors, including textiles.
He also added that his Ministry does not have the bandwidth to tend to requests by smaller trading partners like New Zealand with which the bilateral trade stands at US $ 350 million.
