By Admin 
Union Commerce and Trade Minister Piyush Goyal said that India is in the advanced stage of negotiations with both the European Union and America for trade agreements. He said that talks with both regarding trade are now in their final stages.
America has imposed a penalty of 25 percent on India for purchasing oil from Russia. This is in addition to the 25 percent reciprocal duty on Indian goods entering the US markets. Overall, 50 percent additional import tariff is being imposed on Indian goods in America. New Delhi has called these tariffs unfair and imprudent.
‘Negotiations completed on 10 points with EU’
Speaking at an event in The Economic Times, Commerce and Industry Minister Piyush Goyal said that India and the European Union (EU) have completed negotiations on 10 out of 20 points of the proposed Free Trade Agreement (FTA), while an agreement has been reached in principle on the other 4-5 points. Trade negotiators from both sides will meet next week. Then sensitive issues including trade barriers on steel and automobiles will be resolved. His aim is to complete negotiations on a free trade agreement (FTA) by December.
EU Trade Commissioner will visit India in late November
Piyush Goyal said India hopes to achieve another breakthrough during the visit of the EU Trade Commissioner to India in late November and both sides are moving forward recognizing mutual sensitivities and strengths as they work to address shortcomings in other areas of the agreement.
Goyal had gone to Brussels recently
Let us tell you that Piyush Goyal was on a visit to Brussels from 26 to 28 October, where he met European Trade and Economic Security Commissioner Maros Shefkovic on the proposed India-EU Free Trade Agreement (FTA).
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