Talks for the proposed free trade agreements (FTAs) with countries, including Australia, the UK and the UAE, are moving at a fast pace and these pacts, when implemented, would help provide greater market access to domestic goods, Commerce and Industry Minister Piyush Goyal said on Sunday.
Goyal said that talks for such pacts are going on with Australia, UAE, GCC (Gulf Cooperation Council), European Union, Israel and the UK. When these agreements would be finalised, it would provide “greater access to our manufactured goods as there will be less or zero customs duties,” the minister said at Vaishya Samaj Sammelan.
Goyal added said the economy was witnessing a bounce back in every sphere, and the country is well on track to achieve historical highs in goods and services exports. He said India is on course to achieve $400 billion of merchandise exports in the current financial year ending March.
“Also, on the services (exports) side, we are well on track to go up to a $150 billion,” he said.
(With PTI inputs)