New Delhi: The Union 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 agriculture 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.
When asked about the movement of skilled professionals in the FTA, Goyal said it is part of the services chapter.
"Services also get included in FTAs. We can compete in services and business, and in that, automatically, service providers have to come. To that extent, the FTA will benefit from that (movement of professionals). But we never discuss immigration in FTAs."
Mobility is more for service provision, or student mobility, or internship, or training for 2-3 years, he said, adding that one should be cautious about fraudulent agents, who make false promises for admission and jobs in foreign countries.
When asked whether the trade deal between India and New Zealand is going to happen before the pact with the US, Goyal said: "I don't think we ever discuss deadlines when we finalise, or discuss, or negotiate a treaty. Every agreement stands on its own legs, and every agreement is important. Every agreement is tailored based on the situation in each country, and every agreement will happen at the right time".
Goyal also met New Zealand Prime Minister Christopher Luxon and addressed the media jointly on trade and other issues.
In a social media post, Luxon said both countries are working on the trade pact that would create massive opportunities for Kiwi businesses in the Indian market.
Luxon held about 15 minutes of intense talks with Goyal and New Zealand Trade Minister Todd McClay, even as his cavalcade was waiting.
"We will have a good deal which will protect the mutual interest of both countries. This deal will be finalised after taking into account all the sensitive things in which we do not have to make any kind of compromise; we have agreed that we will not choose those things in which we have difficulty," Goyal said.
He added that one should not conclude a deal in a hurry, as it may lead to mistakes.
Briefing the media with the prime minister and Goyal, Todd said the bilateral trade is growing, and now it is the job of the two ministers to ensure that businesses of both sides form strong relationships.
"...there are always challenges in a trade negotiation. What Minister Goyal and I have agreed is that rather than our negotiators arguing, we will find solutions together. And so far, I think we've made great, great progress," Todd said when asked if the exclusion of the dairy sector from the pact would be a deal breaker.
Talking about sensitivities involved in these trade pact talks with different nations, Goyal said: "What I do with the EU, for example, a USD 20 trillion economy, or what I do with the 10-nation Asean group, collectively a very large population and economy, can not become a benchmark for what I will be able to do with New Zealand".
The size and scale of a country will have to be taken into consideration while negotiating these trade deals, he said, adding that India's market size is huge.
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