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Trade agreements with US, EU to be concluded soon: Sitharaman
Finance Minister Nirmala Sitharaman on Tuesday said negotiations for the proposed free trade agreements with the US and European Union (EU) are progressing at a fast pace and would be concluded soon.
All efforts are being made to boost exports to achieve the ambitious target of USD 2 trillion by 2030.
India has already signed free trade agreements with the UAE, Australia, and 4-nation EFTA (European Free Trade Association) bloc and negotiations have been completed with the UK, she said adding "with the US and the European Union, negotiations are really intensely going on and should come to conclusion sooner."
Speaking at the event, Financial Services Secretary M Nagaraju said India's growth prospects remain bright even as the world economy is troubled by geopolitical uncertainties and significant headwinds emanating from it.
"Even amidst all the global headwinds, India continues to be a beacon of hope," he said.
Nagaraju said that India's exports, which the commerce ministry is "trying very hard" to integrate into the global value chain, are doing well irrespective of the challenges.
Exports from the pharmaceuticals and gems and jewellery sectors are showing resilience, he said adding in this endeavour, the finance ministry is committed to extending support through policy, schemes and financial aid.
"Our financial systems are strong with adequate capital and low non-performing assets," he said, adding, this gives strong support to India's financial needs.
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