“Now we are integrating with major markets also… we just concluded an agreement with the UK, we are in an advanced stage of negotiations with the European Union, we are trying to negotiate and finalize a deal with the USA,” Agrawal, who is also the chief negotiator of the proposed India-US bilateral trade agreement (BTA) said at s CII event.
The aim is to conclude the first phase of the BTA by fall (September-October) of this year. Before that, the two countries are looking to finalise an interim trade agreement.
His statement comes amid the US extending the imposition of additional import duties, which are 26% for India to August 1 from July 9.
Agrawal said that India has so far implemented more than 14 Free Trade Agreements (FTAs) with 26 countries.
India, he said, is also negotiating trade pacts with Latin American countries including Chile and Peru.“We have done (trade pact) with Australia and UAE. We are in negotiations with New Zealand… So, the idea is that we are also integrating in a big way with the major trading partners and major economies,” he added.An official said that Indian trade negotiators will soon visit the US to continue the talks for an interim deal and the first tranche of the BTA and that talks are continuing in both physical and virtual mode.
While the dates of the visit have not yet been finalised, the visit could happen as early as next week.
Earlier this month, the Indian team led by Agrawal returned from Washington after concluding talks on the pact.
