NEW DELHI: Amid the West Asia conflict, goods exports rose nearly 15% during the first two-and-a-half months of the current financial year, sustaining the momentum seen during April.“Even now, if we see April, May and 14 days of June. I have data until June 14, it (exports growth) is 15%,” commerce and industry minister Piyush Goyal said during an interaction with chartered accountants in Mumbai. Aided by strong oil exports, in the wake of high prices of crude and petroleum products, exports have seen a strong growth and Goyal expects that to continue, driven by the trade agreements being signed.“UK FTA will be operational from July 15. Wherever you work, whichever sector you are associated with, tell them how much benefit will come from these things. Now with almost zero duty, almost the entire Europe market will be open for us. EU’s FTA will be signed by Dec and will be effective by Feb-March. The one with Switzerland, Norway etc is already effective since Oct.”He said that next in line is the US trade deal, with US Trade Representative Jaimeson Greer landing in the Capital on Monday for talks on Tuesday and Wednesday in what is seen as a move to keep things ready.The additional tariffs of 10% imposed by the Trump administration, after the earlier “reciprocal tariffs” were termed illegal by the US Supreme Court, are due to expire next month and a deal is expected to help roll out the new tariffs, which are likely to be based on section 301 investigations launched by USTR against India and host of other countries.Goyal said during his meeting with PM Narendra Modi, Canada PM Mark Carney has indicated his govt’s keenness to conclude talks for a bilateral trade deal this year, while Kenya has shown an interest in an FTA with India. Govt is expected to soon start talks with South African Customs Union for a trade agreement, first one with Africa. Since getting in FTA mode after not joining RCEP, trade bloc led by China, govt has signed a raft of pacts, mostly with developed countries.
