Commerce Minister Piyush Goyal announced on Monday that India pursues trade pacts with the United States, European Union, New Zealand, Oman, Peru, and Chile. Qatar and Bahrain have signaled their desire to negotiate similar arrangements with Asia's economic powerhouse. The country already maintains agreements with the United Arab Emirates, Australia, and the United Kingdom while preparing to activate its EFTA deal on October 1.
Goyal credited Prime Minister Narendra Modi for transforming the nation from economic fragility in 2014 to the fourth-largest global economy. The minister emphasized that foreign exchange reserves surpassed $700 billion, and inflation dropped to 2 percent. India will reach $5 trillion in economic output within two years. Uttar Pradesh created the nation's first Export Promotion Ministry to accelerate regional trade development.
Goyal credited Prime Minister Narendra Modi for transforming the nation from economic fragility in 2014 to the fourth-largest global economy. The minister emphasized that foreign exchange reserves surpassed $700 billion, and inflation dropped to 2 percent. India will reach $5 trillion in economic output within two years. Uttar Pradesh created the nation's first Export Promotion Ministry to accelerate regional trade development.
