Wait and watch ,Piyush Goyal on trade deal with UK

Commerce and industry minister Piyush Goyal on Thursday said that India's talks with the UK on the proposed free trade agreement is well on track, but New Delhi will have to "wait and watch" the ongoing political developments in Britain. The FTA with the UK is well on track, the minister said adding that politicians and businesses across the board in the UK recognised that it is very important for them also to do an FTA with India. "But I would believe that our FTAs with the UK, Canada, EU, one or two more we may launch soon, all that is well on track."

We will have to wait and see...what happens, whether they have a quick change of the leadership, whether it goes to the whole process...So let us see who comes into the government and what their views are. It's only after that we will be able to formulate a strategy vis a vis the UK, Goyal said at CII's national exports summit in New Delhi. However, he added that politicians and businesses across the board in the UK recognised that it is "very" important for them also to do an FTA (free trade agreement) with India. The minister said that the trade pact should be fair, equitable and balanced.It has to be a win-win for both sides and there is no deal, unless both are satisfied, he said.Talking about mutual recognition agreements (MRAs) on standards, he said, the ministry is finding "very less" traction in many parts of the world to enter into MRAs.