India is willing to go in for a FTA with EU: Sitharaman
Commerce and industry minister Nirmala Sitharaman shows a pen drive manufactured by IBE Foundation in New Delhi on Wednesday. (Photo: PTI)
New Delhi: Commerce and industry minister Nirmala Sitharaman said on Wednesday that some announcements on setting up of industrial parks by China in the country are expected during the visit of the Chinese President Xi Jinping to reduce the wide trade deficit. She said that the Narendra Modi government’s foreign trade policy (FTP) widely expected to be announced by this month end will be different and she also ruled out any immediate relief on gold import duties.
The minister pointed that India has decided not to impose anti-dumping duty on imports of solar panels from countries like the US and China and said that India is willing to go in for a free trade agreement (FTA) with the European Union. However the EU should address the issues flagged by New Delhi, she said.
Ms Sitharaman said that during the forthcoming visit of Prime Minister Narendra Modi to America both nations will deliberate on issues, including visa restrictions, movement of professionals and greater market access.
“This visit (of the Chinese President) will bring a directional change to the relations between India and China in the last 60 years. The directional change will also help further strengthen the ties between the two nations. We think during this visit some announcement will be made pursuant to which China will move forward in setting up industrial parks in India,” she said.
The minister admitted that the widening trade deficit with China is “worrying” and to reduce it India has as-ked it to give more market access and set up manufacturing units.
( Source : dc correspondent )
Next Story
