Free Trade Agreement with UAE nearing conclusion, says Indian minister

India’s Minister of Commerce and Industry, Piyush Goyal, has told the heads of top business and industry associations that the Free Trade Agreement (FTA) with the UAE is "nearing conclusion".

Responding to the keen interest shown by India’s business leaders in the progress of the negotiations, Goyal said, "the government was striving to conclude several early harvest agreements with countries so that their benefits could reach the industry soon.

He urged industry leaders to be proactive in giving inputs to the government on matters like FTA negotiations. "Industry should become more demanding," the Minister added. "Business and industry associations should give suggestions for further decriminalisation of rules and reduction of compliance burdens wherever feasible."

He expressed confidence of growth in services exports, in spite of travel and tourism restrictions caused by the pandemic. "By and large, economic activities are not being impacted by the current Covid-19 surge."

Nineteen business and industry associations, both national and sectoral, attended the meeting with the Minister, which was convened to exchange ideas to ensure the continuation of a fast rebound of economic activities and high growth rates in the light of a surge in coronavirus infections.