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India.com
2 days ago
- Business
- India.com
India Negotiating Trade Pacts With Several Nations, Including US: Piyush Goyal
India is negotiating trade pacts with several countries, including the US, Commerce Minister Piyush Goyal said on Friday, adding that today, the world recognises the strengths of the country. Speaking at an event in New Delhi, Goyal said several countries are keen to engage with India on the trade front. "We are in dialogue with many countries -- the US, Oman, the European Union, Chile, Peru and New Zealand. Many others want to start engaging with India,' he told the gathering at the BT India @100 event. "The whole world recognises us as the fastest growing large economy. We are contributing 16 per cent in the global growth, our macro economic fundamentals are the best," the minister added. Addressing the Parliament recently, Goyal said the country will take all necessary steps to protect national interest while negotiating trade deals with countries, as US President Donald Trump imposted fresh tariffs. According to the Commerce Minister, international agencies look at India as the bright spot in the world economy. "India has signed mutually beneficial FTAs with the UAE, the UK, Australia and the EFTA nations. We want to achieve such FTAs with more countries," said Goyal, adding that India, through its reforms and MSMEs and industry's efforts, is currently the 4th largest economy and will soon become the third-largest economy. "We are constantly working towards protecting and promoting our farmers. The government is confident of achieving Viksit Bharat goals. India is progressing towards 'Make in India' with self-confidence," the minister said. According to the minister, India and the US decided to talk over a mutually-beneficial trade deal aimed to be completed by the fall of this year. India has signed 13 FTAs with its trading partners. The country is currently negotiating the following FTAs with its trading partners: India-EU FTA, India Australia Comprehensive Economic Cooperation Agreement (CECA), India-Peru Trade Agreement, covering goods, services and investment, India-Sri Lanka Economic and Technical Cooperation Agreement (ETCA) and India-Oman FTA.
Hans India
11-05-2025
- Business
- Hans India
Indian economy has potential to do much better than China in near future: Jim Rogers
India is going to be one of the most exciting investment destinations in the world and it will certainly be compared to China and, maybe, even do much better than China in coming years, ace investor Jim Rogers has said. In an interaction with IANS, he said that 'I have been around the investment world for decades, and for the first time in my life, I see that the people in Delhi understand economics'. 'India's rising again. I think that the people in Delhi understand what needs to be done and are trying to do it. And that would be so wonderful for India and for the world. If India can actually open up and have trade with the whole world. You cannot believe how exciting India can be in the future,' said the American investor and financial commentator. 'I don't have investments in India right now, but I really, really want to invest more in the fastest-growing economy,' he added, adding that if the market goes down and stays down for a while, 'I want to put more money in India'. ndia is poised to become the world's fourth-largest economy in 2025 with the country's nominal GDP rising to $4,187.017 billion during the year to surpass Japan's GDP pegged at $4,186.431 billion, according to the IMF's latest 'World Economic Outlook' report. On free trade agreement (FTAs), Rogers told IANS that more free trade is better for the world, especially India. 'It will be extremely exciting for the world, including foreign investors,' he mentioned. India has signed 13 FTAs with its trading partners. The country is currently negotiating the following FTAs with its trading partners: India-EU FTA, India Australia Comprehensive Economic Cooperation Agreement (CECA), India-Peru Trade Agreement, covering goods, services and investment, India-Sri Lanka Economic and Technical Cooperation Agreement (ETCA) and India-Oman FTA. India and the United Kingdom have signed a landmark FTA, momentous not only in quantitative magnitude -- encompassing reductions across 90 per cent of tariff lines -- but also in its emblematic stature as a recalibration of post-globalisation economic strategy. The FTA signal a new global trade strategy, bypassing China's dependence, navigating US tariffs and reshaping post BREXIT Britain, according to an SBI report. Moreover, India has also initiated review of its existing FTAs, namely, India-South Korea Comprehensive Economic Partnership Agreement (CEPA), and ASEAN-India Trade in Goods Agreement (AITIGA).
