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Exporters Advocating Free Trade Agreement With The EU And UK

Exporters advocating free trade agreement with EU and UK.

In the post-Brexit era, India needs to aggressively try for a separate Free Trade Agreement (FTA) with the European Union (EU) and Britain.

Experts say that it is still difficult to assess the benefits that accrue to India from the agreement between the European Union and Britain, but the country does not appear to be benefiting more from this agreement.

Nevertheless, the country should think about FTAs ​​with both fields in IT, architecture, research and engineering.

Exporters Advocating free trade agreement: The reason for this is that the services sector is not included in the Brexit Agreement.

According to Ajay Sahay, director-general of the Federation of Indian Export Organizations (FIEO).

A leading exporters’ organization, Indian commodities will not benefit much from this but can be leveraged in the services sector.

Now is the chance to pursue FTA negotiations with both the EU and the UK. Vietnam competitors are getting big duty benefits in the textile and marine products sector.

Fio President Sharad Kumar Saraf said that India should now aggressively pursue trade negotiations with the EU and Britain.

According to Professor Rakesh Mohan Joshi of the Indian Institute of Foreign Trade (IIFT).

India has a better chance of meeting the demand of both markets after the trade agreement between EU and UK.

In a recent session organized by industrial organization CII on the India-UK business relationship after Brexit.

Commerce and Industry Minister Piyush Goyal said that it could take at least two years for a free trade agreement (FTA) with Britain.

This is because in doing any FTA many approaches have to be considered. He said that it would be a pleasure for him if this FTA is done by next year.

India’s foreign exchange reserves reached new record high, know how much treasury has increased in a week.

The country’s foreign exchange reserves have once again come up after a drop of $ 778 million last week.

According to the Reserve Bank of India (RBI) data, foreign exchange reserves rose by $ 2.563 billion to a new record high of $ 581.131 billion for the week ended December 18.

Earlier, during the week ended December 11, the foreign exchange reserves had fallen by $ 77.8 million. After this decline, it stood at $ 578.568 billion last week.

The country’s foreign exchange reserves crossed $ 500 billion for the first time during the week ended June 5 and $ 550 billion for the week ended October 9 this year.

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