India pushes trade talks, looks to seal key pacts by year-end

India will see hectic parleys on over half-a-dozen free trade negotiations this month, including a bilateral talk with the United States with “very high” probability of concluding at least two FTAs before the year-end — one with Oman and the other with New Zealand - people in the know said on Sunday.

- Rajeev Jayaswal

India may resolve the last remaining issue with Oman soon and is expected to announce the conclusion of the deal by mid-December at a high-level bilateral meeting. An FTA with New Zealand is expected to be concluded this month as officials from both sides are actively engaged in wrapping up the remaining six issues, they said requesting anonymity.

When asked about the developments, a commerce ministry spokesperson declined to give any specific detail of FTA negotiations. “India is in talks with several countries and no deal is done until it is formally announced. Our primary goal is to have fair, equitable, and mutually beneficial, win-win agreements with our prospective partners. Talks do not have fixed deadlines,” the spokesperson said.

Other than the two above mentioned trade talks that are nearing conclusion, intense bilateral engagements are seen with the EU and the US. A team of negotiators from the EU is expected to deliberate key issues with their Indian counterparts in face-to-face meetings scheduled from Monday in New Delhi, they said.