The government has reached final stages in free trade agreements with a few countries, indicated the Union Minister for Commerce and Industry Piyush Goyal at a recent meeting with representatives of export promotion councils (EPCs) and industry associations in New Delhi.
The meeting with the EPCs followed days after Mr. Goyal’s visit to Washington where he met with his U.S. counterpart Howard Lutinck to further bilateral trade talks even as President Donald Trump decided to go ahead with the proposed reciprocal tariffs against India beginning April 2.
On the ongoing efforts on bilateral agreements, Mr. Goyal said the Government is concurrently working on several tracks and each one of those is aimed at ensuring the best interest of the Indian exporters, according to an official press release.
“The Minister told us that there are teams working on trade agreements with the US, the UK, and the EU and that there will be a positive announcement soon regarding at least one or two countries,” an exporter who attended the meeting told The Hindu.
The Minister is positive that it will lead to better opportunities for Indian exporters and will also bring in higher investment, the release added.
Regarding the changing global scenario, the Minister assured the participants that the Government is working overtime to ensure a good future for Indian exporters of both merchandise and services. On the reciprocal tariffs, the Minister cautioned the export promotion councils to “come out of their protectionist mindset and encouraged them to be bold and ready to deal with the world from a position of strength and self-confidence.”
Allaying concerns of the industry with regard to the U.S., Mr. Goyal called on the EPCs to reflect on their strengths and share their demands and interests with the Government for better engagement with the U.S.
Published – March 15, 2025 09:49 pm IST
