India vulnerable sectors’ protection in FTAs: Goyal

Auckland: Commerce and Industry Minister Piyush Goyal on Wednesday said India consistently protects the interests of vulnerable sectors like dairy and MSMEs in free trade agreements.

He also said that significant progress has been made in the negotiations of the proposed trade agreement with New Zealand. The fourth round of negotiations is underway here for a pact between senior officials of India and New Zealand. "India never compromises on the interests of dairy, farmers and MSMEs. We consistently protect the interests of vulnerable sectors," Goyal told reporters. The remarks are important as New Zealand is a major dairy player in the world, and it may seek greater market access in the sector. The minister said that both countries have agreed to respect each other's sensitivities. India has never given any duty concessions in any of its previous trade agreements. Dairy and agri are politically sensitive areas. "We respect each other's sensitivities...we will not touch such issues," he said, adding that "a trade deal is clearly on the table".

He, however, said that India can look at increasing cooperation in farming technologies, like dairy machinery. Goyal is here on a four-day official visit. He is leading a business delegation.

When asked if more rounds of negotiations would happen, the minister said, "We may not need many more rounds as significant progress has been made". He also said that various sectors hold huge potential between India and New Zealand to enhance cooperation, including in defence, agriculture, space, education and tourism sectors.