India to sign FTA with the EU by 2023

A FTA is a bilateral agreement that reduces government tariffs, quotas, prohibitions, on the import and export of items between two countries.

India to sign FTA with the EU by 2023
Image — Twitter @IMC_I

India is expected to finalize a free-trade agreement (FTA) with the European Union within the next year, according to the Commerce and Industry Minister Piyush Goyal.

Goyal at an event announced that the government has already signed agreements with UAE and Australia, and is in talks with additional countries or blocs such as the EU, the United Kingdom, Canada, and the Gulf Cooperation Council (GCC).