FTA talks with UK, UAE progressing fast: Piyush Goyal

New Delhi: Union Minister Piyush Goyal on Saturday said that India is fast progressing in discussions with several countries, including the UK and the UAE, for Free Trade Agreements (FTAs) and added that India and the United States have agreed to aspire for USD 500 billion trade in the near future.

While addressing the business and trade fraternity through the platform of Jain International Trade Organisation (JITO), he noted that recently India emerged as the world's second most desirable manufacturing destination overtaking the US.

"Government is working towards making India Aatmanirbhar. An Aatmanirbhar Bharat is about building capacity and confidence to engage with all. This will empower our industry to interact with all with quality, cost competitiveness and innovation"Goyal said.

The minister pointed out that the trend showed the potential and promise of India to become the "manufacturing hub" of the world and asserted India should also aspire to become a "trading hub" soon.

Further, Goyal claimed that every growth parameter is showing an extremely "exciting future for all of us".

"Whether it is FDI, forex reserves, foodgrain reserves, agriculture production, manufacturing, all sectors are on a growth path. We now need to sprint ahead," the minister was quoted as saying in an official statement.

Currently, India is in discussions on FTAs with several countries including the UK, UAE and GCC countries, Australia and European Union.