Free trade agreement with EU may take longer to conclude, says Piyush Goyal
Union commerce minister Piyush Goyal on Friday said a free trade agreement with the European Union (EU) will take longer as negotiations with the 27-country bloc will be prolonged.
Active negotiations for the FTAs (free trade agreements) are ongoing with two-three countries and the EU, Goyal said speaking at the Technotex event here organised by industry lobby Ficci.
He said there will soon be some "good news", the pact with the EU may take longer.
"EU will take a longer time, because there are 27 countries which have to come on the same page," the minister said.
Last year, India signed FTAs with Australia and United Arab Emirates. Reports had suggested that the country is in talks with other countries including the United Kingdom, Israel and Canada.
Goyal said the government is mulling to come out with a production linked incentive scheme for the finished goods sector, but did not elaborate on the same.
He said the government has received applications for only Rs 250 crore for .