Commerce Ministry Plans Finalisation Of UK & Oman FTAs Post Elections

ENA Economy 2024-03-26 16:29:30 New Delhi, Mar 26 (KNN) India's proposed free trade agreements with the United Kingdom and Oman are expected to be finalised in the Commerce Ministry's 100-day roadmap for the incoming government, a senior official revealed today. The much-anticipated trade pacts, which have seen intensive negotiations over the past year, are now in their final stages with most critical issues having been resolved through active engagement from both sides, reported ET. The majority of difficult matters in the India-UK FTA talks are moving towards resolution, with both nations committed to a fair and equitable deal, the official stated on condition of anonymity. Beyond these bilateral FTAs, the ministry is also set to prioritise issues facing India's exporting community in a bid to catalyse the country's outbound shipments across sectors. Enhancing economic cooperation with Australia is another key focus area. Talks between New Delhi and Canberra to expand the scope of their existing trade agreement into a comprehensive economic cooperation pact are progressing at a healthy rate, the official added. The 100-day agenda exercise assumes heightened significance following Prime Minister Narendra Modi's directive to all ministers earlier this month. At a Cabinet meeting on March 17th, PM Modi instructed his council of ministers to engage with respective ministry officials on chalking out plans for the first 100 days as well as a five-year roadmap. With Indian exporters eagerly awaiting increased market access and trade facilitation measures, the upcoming FTAs and economic pacts are poised to provide a major boost to India's global trade ambitions under the new government's term. (KNN bureau) 37166 https://knnindia.co.in/news/newsdetails/economy/commerce-ministry-plans-finalisation-of-uk-oman-ftas-post-elections 2024-03-26 16:29:30 knnindia.co.in Commerce Ministry Plans Finalisation Of UK & Oman FTAs Post Elections