Govt focusing on core issues in FTAs for early outcomes: Commerce secy

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Govt focusing on core issues in FTAs for early outcomes: Commerce secy - Business Standard

Quick Summary:

India is focusing on core trade issues such as import duty and non-tariff barriers in the proposed free trade agreements (FTAs) for faster outcomes from these negotiations, Commerce Secretary Sunil Barthwal said on Wednesday.

He said this approach is important as sometimes it takes "so much time" to conclude negotiations for these agreements and because of that businesses lose interests."...the experience has been that when we look at these free trade agreements, sometimes they are so much time taking that people lose interest, the businesses lose interest.

"So we are also reviewing some of these issues in the department (of commerce) as well, as we are talking to our partners who are doing FTAs with us that why can't we first look at the core trade issues, and even if it is early tranche, or even if it is first phase of that comprehensive agreement, but let there be some kind of outcome which should come out of these negotiations.