Goyal said that FTAs with countries like Japan, South Korea, and Asean provided duty-free access to Indian markets, but domestic goods face barriers in these countries.
The report has suggested full income tax exemption for 10 years be provided to units in Special Economic Zones, lower cost of credit for exporters, and fast-paced growth in high-tech shipments
The negotiations have been held up since 2013 due to differences on several contentious issues between the two sides
The former Minister also pointed out the India-ASEAN Ministerial statement and said that what the Minister Goyal had said now were two contrary interpretations.
Boris Johnson met PM Narendra Modi on the sidelines of G7 summit in Biarritz, France, last month
Commerce and Industry Minister Piyush Goyal said that eight rounds of negotiations have been held with South Korea for upgrading the existing comprehensive FTA
Here's a selection of Business Standard Opinion pieces for the day
Regional FTAs are out, but bilateral ones are as tough
Major FTAs account for 11% of total trade and 23% of trade deficit
The impact though, is expected to be cushioned by the transitory increase in export incentives till December 2019
Our experience with the existing free trade agreements has been lukewarm. The industry must change for this to change
India has continued a sustained rise in the share of imported inputs even among its overall exports
The seven FTAs are not seen as necessary for India's expectations to double the size of her economy by 2025
Commerce and Industry Minister Nirmala Sitharaman said review of FTAs is a continuous process and this one was also on those lines