India Set to Finalize Trade Agreements with US and EU Soon
'Trade deals with US, EU soon': Piyush Goyal
The Economic Times
Image: The Economic Times
India is poised to finalize trade agreements with the European Union and the United States following a recent pact with New Zealand. Commerce and Industry Minister Piyush Goyal indicated that discussions with the Eurasian Economic Union will also resume in June 2024 to address non-tariff barriers in various sectors.
- 01India is nearing trade agreements with the US and EU.
- 02Recent trade pact signed with New Zealand.
- 03Next round of talks with the Eurasian Economic Union scheduled for June 2024.
- 04Focus on addressing non-tariff barriers in agriculture and electronics.
- 05Eurasian Economic Union includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
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India's Commerce and Industry Minister Piyush Goyal announced that the country is likely to finalize trade agreements with the European Union and the United States in the upcoming months, following a recent trade pact with New Zealand. This move aims to enhance India's trade relations and market access. Additionally, India is set to engage in the next round of discussions with the Eurasian Economic Union (EAEU) in June 2024, where it will address non-tariff barriers affecting sectors such as agriculture, marine products, automotive, and electronics. The EAEU comprises five member countries: Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
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These trade agreements could significantly boost India's export potential and create new market opportunities for various sectors, benefiting local businesses and consumers.
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