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India to Enter FTAs on its Own Terms, assures Goyal

Talks on for EU and UK FTAs

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Talks on for EU and UK FTAs\

 

 

PIB.
Goyal addressing the workshop on Make in India.

 

Commerce and Industry Minister Piyush Goyal has assured that India will not enter into any free trade agreements (FTAs) or economic partnerships in a rush as any free trade pact has to be a two-way benefit arrangement and a win-win for all sides.

Speaking at a State Consultation Workshop for Make in India in New Delhi on 30 Oct 2019, he informed that India is in talks with the European Union and United Kingdom for FTAs.

He assured representatives of the States to assuage the industries and manufacturers of their region that India will enter in FTAs on its own terms and will take all measures to protect the interests of the country, the industries and ensure job creation.

India is not in a weak leadership to meet deadlines of regional FTAs, stressed the Minister.

In today’s world India cannot adopt an isolationist position and remain cut-off from the rest of the world but India will engage with the world after taking all necessary and adequate safeguards for its domestic industry both manufacturing and services, he underlined.

Ministers of State for Commerce and Industry Hardeep Singh Puri and Som Parkash as well as Commerce and Industry Ministers from 27 States and Secretary DPIIT were present at the workshop.

Goyal disclosed that Invest India is setting up a dedicated desk for the states of the North East Region that will look into investment targeting, promotion of investments for the North East States, facilitation of investments and development of websites for the States of the North East Region of India.

He also informed that free legal help is being provided to the MSME industries by Directorate General of Trade Remedies in the Commerce and Industry Ministry and urged the MSME industries to avail of this facility.

In order to help attract investments, the Minister said that regulatory stability is very essential so that investments are safe and secure.

He also urged States to look at their labour laws in order to create a conducive environment for investments in manufacturing.

He welcomed suggestions from States and industry on ways to take the Make in India programme more robust and chart out a road map for the next five years with a focus on ease of doing business that will attract more investments, create more jobs in the MSME sector. fiinews.com

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