According to Piyush Goyal, minister of business and industry, India’s free trade agreements (FTA) will contribute to surpluses and the nation will be “comfortable” in its foreign exchange situation for the next five to six years. Additionally, he urged the Indian industry to work with trustworthy supply chain partners.Goyal exhibited confidence in his ability to export $1 trillion worth of both goods and services by 2030.
India is in the process of negotiating trade agreements with the UK, Canada, the EU, and the EFTA, which is made up of Switzerland, Norway, Iceland, and Liechtenstein.
He stressed that FTAs are a two-way street and said, “I feel very unhappy when sometimes I’m told, “We want access to the European market, but please don’t let them come into our market.”
