Two days after India refused to become the signatory of the Regional Comprehensive Economic Partnership (RCEP) treaty in Thailand, Union Minister of Commerce and Industry & Railways Piyush Goyal while addressing a press conference in Delhi assured that India will never finalize any trade agreement in a hurry. During trade negotiations the focus will be on India first, he maintained.
Goyal asserted that India’s economic interests and national priorities come first and the concerns of the farmers, dairy sector, MSMEs and domestic manufacturing will be addressed and these sectors will be protected. Commerce and Industry Minister further informed that the Free Trade Agreements (FTAs) with Japan, South Korea and ASEAN countries are being reviewed. The review of the FTA with South Korea,which began three years back and now is being fast tracked. He further informed that India has already secured agreement in ASEAN for a review of the FTA and a Joint Working Group (JWG) is discussing the issues to be addressed in Japan FTA.
Replying to questions Commerce and Industry Minister informed that at present India is exploring trade agreements with the USA and European Union, where Indian industry and services will be competitive and benefit from access to large developed markets.