Government in contact with US at various levels for BTA and trying FTA with EU by year end: Piyush Goyal

Doha [Qatar], October 7 (ANI): Union Commerce and Industry Minister Piyush Goyal on Tuesday said that the Indian government is in contact with the United States across various levels regarding the proposed Bilateral Trade Agreement (BTA), adding that there is a possibility for the agreement to take shape.

However, the minister did not specify any timeline for the conclusion of the BTA negotiations, emphasising that discussions are ongoing and not bound by deadlines.

"Our talks with the United States are ongoing continuously. Contacts are maintained at different levels. We never negotiate based on deadlines. The possibilities are full. Every possibility exists. Currently, the US government is in shutdown mode. In light of that, we'll have to see how, where, and when the talks can take place," the Union Minister said while speaking to the reporters during his Qatar visit.

Turning to the Free Trade Agreement (FTA) negotiations with the European Union, Goyal shared that "There are very good discussions going on between EU and India in Brussels. Our entire team is there."

He expressed optimism about the partnership, describing it as a collaboration between the USD 20 trillion European Union of 27 countries and India, the fastest growing large economy in the world.

Goyal emphasised the complementary strengths of both partners, India's young, skilled workforce and the EU's innovation and technology base.

"We are hoping to work together in a spirit of deep understanding of each other's sensitivities so that we can conclude a very equitable, fair and balanced free trade agreement between the $20 trillion European Union of 27 countries and India, the fastest growing large economy in the world today, we complement each other," he said.

Goyal added, "Our young, talented and skilled population is a great resource for the European Union who needs talented young people. The innovation and technology base that European Union has holds tremendous potential for Indian businesses and jointly the European Union companies and Indian companies can leverage each other's strengths so that we can serve the world together."

He further informed that once the current round of talks concludes, Commerce Secretary Rajesh Agarwal will travel to Brussels to meet his counterpart by the end of this week to discuss the next steps.

Regarding the FTA deadline, Goyal reiterated, "I have often said that we neither do negotiations with a deadline, nor do we like to unnecessarily delay negotiations. So we will make every endeavor to meet the leaders expectations and complete the negotiations before the end of the year and I see tremendous potential and possibility."

The Minister also spoke on the India-Qatar partnership, and added, "India and Qatar are also doing third country projects in partnership between Qataris and Indian businesses."

"The Qataris government is also looking at third country projects for which, as they inform me, the Qatar development bank is willing to give guarantees for financing. And I think Indian businesses should seriously consider such guaranteed financing for partnering with Qataris, business persons in third countries," Goyal added. (ANI)