Jun. 25 – India and Canada set to begin talks on a possible free trade agreement by the end of the year.
A joint study group is working on a feasibility study that is expected to be finished soon. “The Canadians are very keen that we begin negotiations soon. The intention to start talks this year may be announced during the Indian PM’s Canada visit,” a government official said.
An agreement between India and Canada will boost trading in goods, investments and services for both countries and lift bilateral trade from US$4 billion.
“Following the duty reduction by Canada, opportunities for increased exports from India would be in apparels and textiles, carpets, articles of iron and steel, gems and jewelery and select electrical machinery, among others,” Federation of Indian Chambers of Commerce and Industry secretary general Amit Mitra said.
India is also considering more access in the service industry in addition to trading goods in the form of visa liberalization for its high skill professionals and low-skill workers.
