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India-US to fast track deal talks: Piyush Goyal

Commerce & Industry Minister Shri Piyush Goyal on Tuesday said India and the US will fast track talks for a larger free trade agreement (FTA) and get into its legal vetting soon. The agreement will encompass market access, services, investment protocols and areas of mutual interest.

Addressing an event at the Ficci US-India Forum, the minister had earlier stated: “Having almost closed the last contours of the limited trade package that we have finalized and with the significant announcement of a much larger trade deal in the offing, I think we have moved to a new level of engagement where we are going to see a lot more two-way trade.”

He also exuded confidence in the country’s ability to attract US$100 billion foreign investment per year without major difficulties. He also felt that government will have to work towards loosening the regulatory mechanisms and initiatives to improve the synergy between the different wings of the government are on.