FTA talks: Canada in Mar; GCC seeks pact

Commerce Minister Piyush Goyal mentioned Friday India was more likely to enter negotiations for a free commerce settlement (FTA) with Canada in March or April 2022, and that members of the Gulf Cooperation Council (GCC) had as a gaggle approached India to start free commerce negotiations. FTA talks are ongoing with the UAE, Australia, EU and Israel, and are set to begin with the UK subsequent month.
“Now all the GCC countries have approached us to start negotiations on behalf of the entire GCC grouping,” Goyal mentioned, talking on the annual conference of trade physique FICCI. The GCC includes Saudi Arabia, UAE, Bahrain, Kuwait, Oman and Qatar. India is more likely to announce a separate early harvest FTA with the UAE for discount of tariffs on sure items inside the subsequent month.
Goyal additionally mentioned India was exploring if an “India Mart” might be arrange in Dubai to spice up the profile of Indian merchandise in African and Middle Eastern nations.