New Delhi, Nov 28 (UNI) On India-US trade deal, India’s overall position is well set to deliver it in the next few weeks or months as soon as we can, said Rajesh Agrawal, Secretary, Ministry of Commerce & Industry.
While speaking at FICCI’s annual general meeting and annual convention, the Secretary said, “We are very optimistic and very hopeful that we should find a solution within this calendar year. But as you know, in any trade negotiations, even if there is one sticking point or issue on the mind of even one of the partners, the trade deal may not meet that deadline.”
“The overall position is well set to deliver it in the next few weeks or months as soon as we can. But let’s see, it’s a call that will have to be taken at multiple levels. At the levels of negotiator, I think we are in a zone where we can say it is something that we can achieve in a very short while of time,” he said.
The Commerce Secretary further said, “There’s not much to negotiate…As a country, we have always stood for our own sensitivities and our own uniqueness. So there are areas which are non-negotiable from our perspective…”
He further said that India’s expanding market and rising demand would draw significant investment into manufacturing as well.
“This demand has to be met by producing locally; it cannot be met only by imports. Global investors are aware of that and will be looking at India as an investment market,” he added.
At the event, union Minister of Commerce and Industry, Piyush Goyal, had also said the four-nation European Free Trade Association (EFTA) bloc has committed to invest USD 100 billion in India across innovation and precision manufacturing.
Highlighting India’s cost competitiveness in research and innovation, the minister stated that high-quality innovation undertaken in India can be achieved at a fraction of the cost compared to Europe or the United States.
He emphasised the need for Indian industry to move beyond legacy mindset and adopt a forward-looking and globally competitive approach.
