List for free trade agreements (FTAs) including 709 items, will have to be reduced to around 550, according to P K Dash, Joint Secretary, Ministry of Commerce and Industry.
Addressing the media, he informed that the sectors that need to incorporate these cuts are textiles, chemicals and auto.
The 16 products in the agriculture list will continue to be on the negative list. This cut is expected to be implemented in a month, he said.
Dash also added that it is not possible to ensure that all the sectors in economy gain with FTAs.
Indian industry should be ready for FTAs with other countries and should focus on the preparedness and readiness to enter into agreements, he added.
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