India-US trade deal approved, but when will it be implemented? Piyush Goyal cleared the picture

Piyush Goyal On India-US Trade Deal: Talks have been held on trade deal between India and America. A framework has also been issued regarding this, but the big question is when will it be implemented? So Union Commerce Minister Piyush Goyal has given a big update regarding this. He told on Friday that the interim trade agreement between India and US is likely to be signed in March.

According to news agency PTI, Piyush Goyal said that the legal draft of the legal interim trade agreement of this deal between the officials of India and America will be finalized soon. For this, a three-day meeting is going to be held in the US from February 23 this month.

Deal soon not only with US but also with these countries

This update has come after both the countries shared the framework and factsheet regarding this deal. Regarding this, the Union Minister said that after the India-US Trade Deal is signed in March, it can be implemented from April. While giving this big update on the India-US trade deal, the Union Minister said that India’s free trade agreement with Britain and Oman is also expected to be implemented in April itself. Apart from this, while talking about India’s deal with New Zealand, Piyush Goyal said that this India-New Zealand FTA can be implemented in the month of September this year.

American ambassador also gave signal

Not only Piyush Goyal, but also US Ambassador to India Sergio Gore has given good news regarding India-US Trade Deal. Recently, while announcing the bilateral trade agreement, US President Donald Trump had said that there should be a consensus between the two countries regarding this. Now their Ambassador Gore also indicated that both the countries can sign the deal soon.

Also read: Historic leap of Indian economy, foreign exchange reserves cross $ 725 billion; India’s dominance increased in the world

What are the benefits of trade deal with US?

Recently, the SBI Research report regarding India’s deal with America was explained in detail and this is a deal which will be of great benefit to the country. With this, India’s exports can increase by more than 100 billion dollars on an estimated annual basis, while trade deal This will also lead to a rise in GDP. SBI estimates that this will increase India’s GDP by about 1.1% and will also result in foreign exchange savings of about $3 billion annually due to reduction in import duties.