Once India enters into FTA with Asean countries, who have already entered into the similar FTA with China, it is inevitable that Chinese products, imported under FTA within Asean countries could find their way very conveniently into Indian market.
India and the ten-member ASEAN block will hold parleys on ways to conclude talks before the August 2010 deadline to widen the scope of Free Trade Agreement (FTA) to include services and investment expected to provide huge opportunity to Indian professionals to work in Southeast Asia.
Secret discussions aimed at pressuring India into dropping all measures that shield its industry from foreign competition have been held between European Union officials and some of the world's top corporations.
As much as 60-70 per cent of India's global trade would be free from duty barriers or attract lesser levies in the coming two-three years, a Commerce Minister official said today.
Talks on a free trade agreement between the European Union and India are stuck on the issue of additional market access after the eighth round of negotiations in New Delhi late last month.
The eighth round of the FTA talks which took place in Mumbai last week have been strongly criticised in India for their secrecy and lack of consultation with the national parliament and state governments.
India and New Zealand have begun negotiations for a free trade agreement which Trade Minister Tim Groser says will put New Zealand in a prime place to benefit from India's economic growth.