India eyeing to enter free-trade agreement with EU, Gulf, Israel and Eurasian region

The first draft report between Russia, Belarus and Kazakhstan has already been drafted

Overdrive May 31, 2016 19:39:51 IST
India eyeing to enter free-trade agreement with EU, Gulf, Israel and Eurasian region

India plans to enter a free-trade agreement with the the EU, Gulf, Israel and Eurasian region to revive the export market and deepen trading relations. The operation is being spearheaded by Indian commerce and industry minister, Nirmala Sitharaman.

In a free-trade agreement between two or more countries, a free-trade area is established along with reduced trade barriers like import duties and tariffs. This in turn promotes trade of goods among the involved countries.

Currently, a joint study group has been organised for the pact...

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