What PM Modi said on India-US trade deal in his Rajya Sabha address
The PM underscored that India today has emerged as a trusted partner of several countries as it is playing its role in a manner that contributes to global welfare.
The PM underscored that India today has emerged as a trusted partner of several countries as it is playing its role in a manner that contributes to global welfare.
“The goal should be mutual growth anchored in quality, transparency, and patient safety under a MRA (mutual recognition agreement) based on common ISO standards,” Nath said.
Designed as a modern, rules-based trade partnership, the FTA responds to contemporary global challenges while enabling deeper market integration between the world’s 4th and 2nd largest economies.
BJP has described the deal as “historic step”, highlighting its potential to create opportunities for 200 crore people in India and Europe—nations with one fourth of the GDP and affecting the economy of the entire world
The India-EU FTA covers trade in goods and services, rules of origin, customs and trade facilitation, trade remedies, and emerging areas such as digital trade and MSMEs.
India-EU trade agreement is a perfect example of a partnership between two major economies of the world, Modi said.
Trump made this comment while speaking to Moneycontrol, following his address at the 56th Annual Summit of the World Economic Forum.
The delegation visited the US from 22-24th September, and the Commerce Minister had meetings with Ambassador Jamieson Greer, United States Trade Representative, and Sergio Gor, US Ambassador-designate to India.
A team of officials from the office of US Trade Representative led by Chief Negotiator, India-US Bilateral Trade Agreement negotiations, Brendan Lynch visited India.
His remarks came ahead of the August 1 deadline he has set for India to reach a trade agreement or face reciprocal tariffs.
