India, US talk free trade

Source: Times of India

10 Jan 2008, 0002 hrs IST

NEW DELHI: It could be the mother of all FTAs. The government on Wednesday said it was contemplating a bilatral trade pact with the US. "Bilateral trade agreements are currently in the pipeline with at least 10 potential partners ranging from Asean, EU, US and Canada," commerce and industry minister Kamal Nath said at the Pravasi Bharatiya Divas.

He touched upon negotiations with the US and Canada in a prepared speech, the text of which was circulated to the media. India has set a global engagement target of $550 billion, Nath said, compared to $450 billion at present which includes trade and investment flows.

It is not clear if US was pushing the agenda on a bilateral deal. But the verdict in India is unclear with even government departments opposed to an arrangement, where Washington is expected to insist on a treaty on investment.


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