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    India-UK FTA talks could start next month: Piyush Goyal


    Union Minister Piyush Goel addresses the 94th Annual Conference of FICCI in New Delhi. (Photo: Mani Sharma / AFP)

    The proposed FTA between India and the UK is expected to unlock remarkable business opportunities and create jobs.

    • PTI New Delhi
    • Latest version:December 17, 2021, 5:03 pm IS
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    Commerce Minister Piyush Goel on Friday expressed confidence that talks on a free trade agreement between India and the United Kingdom would begin next month and with Canada in March-April. He was speaking at the 94th annual conference of the industry body FICCI here.

    Goyal said he would be in Mumbai on Saturday to engage with exporters and retailers to test the benefits of a free trade agreement with the UAE. “With that we’re looking at other engagements with the UAE, which will be announced soon, but we’re still working to see if there can be something like a big India mart in Dubai where a huge number of stores can come to showcase. The minister said such a mart would help Indian exporters expand their presence in Africa, the Middle East and other parts of the world, adding that India was in talks with other countries and regions for a free trade agreement. Is doing. “So, we’re seeing new ideas, including the FTA with the UAE. We are also negotiating with Australia … UK, we will probably launch next month. We can launch in Canada in March or April, “he said.

    Goyal, who also owns a textile portfolio, said there are “trillion-dollar opportunities” waiting for the textile industry, the country’s second-largest employment-generating sector after agriculture. The proposed FTA between India and the UK is expected to unlock remarkable business opportunities and create jobs. Goyal says most of the country’s industries are doing reasonably well, but still, there are some areas that are under pressure. He added that in the current financial year, it seems that the export of goods has reached 400 billion US dollars.

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