India Negotiations on FTA (Free Trade Agreement) between India and New Zealand were completed today. Both countries announced this on Monday. Along with this, India was successful in making 3 big trade deals this year. Whereas, this is India’s 7th big trade deal in the last 5 years. The special thing is that India has made all these deals with developed countries. After the FTA with New Zealand, India’s Union Commerce and Industry Minister Piyush Goyal said that this is a comprehensive and future-looking FTA, it will promote our farmers and dairy. He said that this is an FTA done in 9 months, which has been possible with the help of women.
What is the update on FTA with Canada and America
Piyush Goyal said that India is soon going to do FTA with Canada and the ongoing discussion on FTA with America is at the advanced stage. Let us tell you that India first signed a CETA (Comprehensive Economic and Trade Agreement) deal with the United Kingdom in July this year. After which, India signed CEPA (Comprehensive Economic Partnership Agreement) deal with Oman on 18 December this month. This deal was signed between the two countries during Prime Minister Narendra Modi’s visit to Oman.
India had made a trade deal with EFTA in 2024
Piyush Goyal posted a post on his X account on Monday. In this post, while referring to India-New Zealand FTA, he said that this was the 7th free trade agreement under the leadership of Prime Minister Narendra Modi. Let us tell you that earlier India had signed TEPA (Trade and Economic Partnership Agreement) with EFTA (European Free Trade Association) in 2024. The European Free Trade Association is an organization of four member countries. This organization includes Iceland, Liechtenstein, Norway and Switzerland. EFTA is an intergovernmental body that promotes free trade.
India had a deal with two countries in 2022
Earlier, India had signed trade agreements with two countries in the year 2022. In the year 2022, India first signed the CEPA (Comprehensive Economic Partnership Agreement) deal with the United Arab Emirates (UAE). This trade deal between India and UAE was signed in February 2022, the main objective of which was to increase trade between the two countries on a large scale. After signing the CEPA deal with the UAE, India signed ECTA (Economic Co-operation and Trade Agreement) with Australia in April 2022. Apart from this, India had signed CECPA (Comprehensive Economic Co-operation and Partnership Agreement) with Mauritius in February 2021.
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