India's Focus on Core Trade Issues for Expedited FTAs

Commerce Secretary Sunil Barthwal highlights India's emphasis on core trade issues, such as import duty and non-tariff barriers, in proposed free trade agreements. This strategic pivot aims to speed up negotiations and maintain business interest. The approach is being applied to deals with the LAC region to boost trade.

In an effort to expedite free trade agreement (FTA) negotiations, India is shifting its focus to core trade issues, including import duties and non-tariff barriers, according to Commerce Secretary Sunil Barthwal.

Barthwal addressed the CII's India-LAC Business Conclave, stating that the emphasis on essential trade concerns is intended to quicken outcomes and keep businesses engaged. He underscored the growing need for this approach with countries in the Latin America and Caribbean (LAC) region.

As India negotiates trade agreements with MERCOSUR, Chile, and Peru, Barthwal pointed out the potential to significantly increase trade by overcoming tariffs and regulatory challenges, aiming to double bilateral commerce from USD 50 billion to USD 100 billion.

(With inputs from agencies.)