Srinagar, 6 July (IANS). Union Commerce and Industry Minister Piyush Goyal said on Sunday that India’s Free Trade Agreement (FTA) will never be at the cost of national interests.
Speaking at the FTII Traders Conclave in Srinagar, Goyal said that the government is committed to ensure that all business deals are mutual and protect the interests of Indian traders and manufacturers.
He said, “FTAs are signed so that our local goods can get a duty -free access to other countries and remove obstacles in reaching other markets. But it is natural that the FTA will have a two -way trade. It cannot be possible that they open their markets for our goods while we are not.”
Giving a clear message to the traders of the region, the minister said that the Center will not compromise sensitive areas or regional concerns while interacting with foreign partners.
He said, “Traders do not need to worry. Whatever FTA we do, the interests of Jammu and Kashmir and the whole country will be taken into consideration.”
Goyal’s remarks have come at a time when talks are going on between Indo-US about FTA. This trade agreement will exempt Indian exports from American tariff growth.
The Union Minister said that India is ready to expand trade, but all agreements will be created to ensure fair competition, domestic capacity building and long -term economic strength.
The Union Minister further said that the government is promoting ‘Wocal for Local’ and ensuring that the local product goes globally.
Goyal said, “Our approach supports both ‘Make in India’ and ‘Make for the World’.”
The minister had said earlier this week that India does not make trade agreements on the basis of deadline, but on the basis of mutual benefit and national interest.
India on Friday told the World Trade Organization (WTO) that it plans to impose counter -targets on selected American products in response to automobiles and some auto parts recently by the US.
-IANS
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