INDIA: Free Trade agreements with all the regional economies in a year

Signing of the Free Trade agreements with all the regional economies in a year,this was stated by Mr.Kamal Nath, Union Minister of Commerce and Industry, at the 80th FICCI Annual General Meeting.

"It will enable India to integrate with the global economic architecture and further it will help to adapt the changing global business dynamics. This will show some adverse impact on Indian industry in the short run but it in long run we will realise its benefits” Mr. Kamal Nath said.

India needed to consolidate its efforts in terms of technological upgradation, skill development, business competitiveness.

"We are in a process of optimally utilizing the forum like WTO to negotiate and for ensuring global rules of trade to be fair and impartial, the Indian Government has recognized the need for initiating fiscal policy reforms and restructuring the prevailing taxation structure in the country for providing a level playing field to the Indian industry” Mr. Kamal Nath emphasized.

Source: emergingtextiles.com