Qatar wants to negotiate trade pact with India, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said Free Trade Agreement (FTA) with Oman will be finalised soon, and Qatar also wants to negotiate a pact with India.

He also assured exporters of all support to deal with the current global uncertainties at the trade front, which was caused due to unilateral actions of a country.

The government is in consultation with all the stakeholders, including Indian Missions abroad, for diversification of exports, he said.

He added that domestic consumption will get a boost from GST reforms.

"Our exports this year will be higher than last year," Goyal said at an event here.

 

India's share in global trade is only about 2 per cent, and about 40 per cent of items of the total exports to the US are out of the ambit of 50 per cent tariffs, so the impact will be less.

Free Trade Agreement with Oman "will be finalised soon," he said, adding "Qatar also wants to do a trade agreement", and Saudi Arabia is also keen.

Goyal added that talks with the European Union for a free trade agreement are moving at a faster pace.