Govt sets up working group to examine impact of FTAs

The government has constituted an independent working group under the Chief Economic Advisor to examine the impact of free trade agreements (FTAs) signed by India, the Parliament was informed today. "The Ministry of Finance has constituted an independent working group under the Chairmanship of the Chief Economic Advisor to examine the impact of FTAs signed by India", Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. The working group would undertake an analysis of bilateral trade and investment flows with the countries with which India has signed FTAs, comprehensive economic cooperation agreements (CECAs) and comprehensive economic partnership agreements (CEPAs), at the aggregate and the sectoral level, she said.

It would also analyse the impact of these agreements on certain specific sectors in greater detail, she said. India has signed FTAs with countries such as Japan, South Korea, Singapore, and ASEAN group. Replying to a separate question, she said in the first meeting of joint working group on trade and commerce in April, India and Iran have agreed to examine the scope and the feasibility of entering into a preferential trade agreement.