India is likely to close Foreign Trade Agreements with the UAE, UK and Australia this year. Apart from merchandise trade, the country will seek more opportunities in the services sector while attracting foreign direct investments.
“We are in advanced stages of negotiation with the UAE, Australia and the UK. The government is engaging with the industry and different ministries and is keen on finalising the deal very quickly, most probably this fiscal,” said Ajay Sahai, director general and CEO of the Federation of Indian Export Organisations. FTA negotiations with the European Union and Bangladesh also are progressing, but may take some more time for getting finalised. Read More.