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Indian economy well-poised to take off: Piyush Goyal
Jan-24-2020

Union minister Piyush Goyal has asserted that the Indian economy is well-poised to take off and the government is committed to ensure economic growth. He noted that there is a lot of enthusiasm for making investments in the country. He said ‘Britain is set to leave the European Union by the end of January.... things have once again started showing an uptrend... economy is well poised to take off from here.’

Talking on Regional Comprehensive Economic Partnership (RCEP), the minister said it was an unbalanced trade agreement, which was really not fulfilling the guiding principles on which RCEP started about eight years ago, therefore India chose not to participate in it. He also said ‘out of the RCEP countries India already has bilateral trade agreements with ASEAN 10 with Japan and Korea, we are close to concluding negotiations with Australia which we have restarted now and in the next 6 to 8 months we are can close a bilateral trade partnership with Australia.’

Goyal further said ‘RCEP was effectively becoming a free trade agreement between China and India. I don’t think India is ready to engage unless we see open government, better transparency, regulatory practices being followed, and greater market access for Indian goods and services on a reciprocal basis.’

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