Confident that India will soon ink free trade pacts with EU, New Zealand, Oman: Minister

New Delhi: Union Minister of State for Commerce and Industry Jitin Prasada on Friday expressed confidence that India will soon sign free trade agreements with the 27-nation European Union bloc, New Zealand and Oman.

Addressing at the inauguration of the India International Trade Fair here, he said that the commerce ministry is signing free trade agreements with various nations globally.

"You will be happy to note that India talks on an equal footing today with big developed nations. Those days are gone when we used to talk under pressure (Woh Zamaane Lad Gaye Jab Hum Dab ke Baat Karte The)," said the minister.


Referring to free trade agreements signed with various nations, he said, "(Detailed negotiations are underway with European Union, New Zealand and Oman. I'm fully confident that very soon we will also sign FTAs with them also) European Union, New Zealand, Oman se vistrit charcha ho rahi hai aur jaldi se jaldi mujhe poora vishwas hai ki wahan se bhi hum free trade agreement kar lenge".

India has already signed FTAs with several nations, including the UAE, Australia, and the four-nation European bloc, EFTA.

In August, the government had said negotiations for India-Oman comprehensive free trade agreement (FTA), which would help boost bilateral trade and investments, have been concluded.

Negotiations are also underway between India and EU for a proposed FTA, and separately between India and New Zealand for a trade deal.