New Delhi, May 5: Commerce and Trade Minister Piyush Goyal held a review meeting on Monday with key officials and chief negotiators to assess the progress of India’s Free Trade Agreements (FTAs).
In a post on the social media platform X, the minister stated, “A review meeting was conducted to evaluate the progress of India’s FTAs. Discussions focused on encouraging more businesses to export from India and enhancing the country’s capacity to export world-class products. Opportunities to strengthen India’s position in global value chains were also explored.”
Earlier, Goyal engaged in discussions with a Japanese delegation to bolster bilateral trade and investment relations.
He mentioned in a post on X, “Met with a delegation led by Takayuki Kobayashi, a member of the House of Representatives and chairman of the ruling Liberal Democratic Party’s policy research council.”
Goyal further added, “We discussed strengthening India-Japan economic relations, enhancing MSME partnerships, and deepening cooperation in key sectors such as automobiles, infrastructure, pharmaceuticals, and advanced manufacturing.”
On Friday, Goyal noted that the India-UAE Comprehensive Economic Partnership Agreement (CEPA) is accelerating robust trade expansion and opening new avenues for Indian businesses.
Four years after the implementation of the India-UAE CEPA, significant growth has been observed in bilateral economic relations across various sectors. Highlighting this progress, Goyal stated that the agreement has created transformative opportunities for Indian farmers, small and medium enterprises, and businesses. He noted that bilateral trade between the two countries has surpassed the $100 billion mark, reflecting strong momentum since the agreement’s implementation. Service trade has also seen continuous growth, aiding Indian companies in accessing new markets and enhancing value creation.
Additionally, he held virtual talks with UK Trade and Commerce Minister Peter Kyle to further strengthen bilateral trade and investment relations. The minister mentioned in a social media post that both leaders discussed ways to maximize the benefits of the India-UK Comprehensive Economic and Trade Agreement.