India negotiates trade deals firmly and on equal footing: Jitin Prasada

India negotiates free trade agreements with nations on an equal footing with adequate firmness, as the country has changed under the leadership of Prime Minister Narendra Modi, Minister of State for Commerce and Industry Jitin Prasada said on Wednesday.

He said that India's economic growth is progressing rapidly. "When we do FTAs with different countries...we talk on equal footing. This is the new India. We put forth our point of view forcefully," he said.

The minister was speaking at the inauguration of the newly-expanded ISA building of the Intellectual Property Office (IPO) in Dwarka here.

His remarks come at a time when India is negotiating trade pacts with a number of countries including the US, European Union, Peru, Chile and New Zealand.

With the US, five rounds of talks have been held so far. India has clearly stated that it can not compromise on agri, and dairy sectors, a key demand of the US.

Inaugurating the building, Commerce and Industry Minister Piyush Goyal said innovation is not only a form of intellectual property but also a symbol of sovereignty, and it will play a crucial role in taking India forward in the world.

He emphasized that in every developed country, innovation, new ideas, research, and development are priorities, and it is through such innovation that these nations have prospered.

The expanded facility can now accommodate over 700 personnel, compared to the earlier capacity of 200 in the old 6,082-square-foot IPO building. The project, costing about Rs 88 crore, features modern architectural design to maximise workspace and promote efficiency.

Meanwhile, Goyal held an interaction with IP stakeholders and sought their views to make laws more simple, decriminalise minor offences and make them user-friendly.

About 1,000 provisions are expected to be identified in the next 45 days to promote ease of doing business.

He added that India can benefit from its low-cost R&D and clinical trials.