India looking to finalise FTAs with Israel , Canada, UK, EU
News: As per media reports, Union Minister for Commerce and Industry and Textiles Piyush Goyal has said India is soon expected to finalise free trade agreements (FTAs) with Israel, Canada, the UK and the European Union.
Views: India has finalised FTAs with the UAE and Australia and is now in talks with Canada, UK, Israel and the EU for FTAs. The signing of FTAs will provide Indian textile and clothing exporters a level playing field compared to Bangladesh, Pakistan and Vietnam who enjoy duty free access to these countries. The removal/reduction of import duty in the above regions for textile products from India would make the Indian textile industry more competitive to global textile and clothing exporters.