Union Commerce and Industries Minister Piyush Goyal.
Credit: PTI Photo
New Delhi: India is at present negotiating free trade agreements with a number of trading partners, including the US and European Union, Commerce and Industry Minister Piyush Goyal said on Friday.
India is working with its trusted trading partners through these agreements, he said.
"We have all seen trade being weaponised. We have all seen the importance of having trusted partners around the world," he said, adding that at this moment, India is in talks with individual countries and groups of nations totalling about 50.
India is negotiating a trade pact with Oman, and at the same time, Bahrain and Qatar want to enter into negotiations, he said.
GCC (Gulf Cooperation Council) is also now talking, he said.
"The whole six-nation group would like to engage. We are talking to New Zealand...We are in active discussions with the US and with 27-nation EU," the minister said here at Ficci annual general meeting.
The country is also reviewing the ASEAN and Korea FTAs to bring more balance to it.
"We are working with Eurasia (EAEU), which has started negotiations yesterday or the day before yesterday. We are equally engaged to start negotiations very quickly with Israel. Canada and India are looking at CEPA. Next week, they are going to start a conversation around that," he added.
South Africa Customs Union (SACU) and Mercosur group also want to negotiate, he said.