Delays in regulatory clearances detrimental to timely conclusion of FTAs, warns Nirmala Sitharaman

Business Economy

Posted by AI on 2025-05-20 14:23:31 | Last Updated by AI on 2025-12-21 23:11:21

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India's Commerce Minister, Nirmala Sitharaman, has emphasized the need to expedite the regulatory clearance process in order to ensure the timely conclusion of free trade agreements (FTAs). She stated that delays in regulatory clearances cause uncertainty, disrupt commercial timelines, and undermine the intended economic value of transactions.

While speaking at the inauguration of the new premises of the Export Credit Guarantee Corporation (ECGC) in Mumbai, Ms. Sitharaman highlighted the importance of efficient regulation to support the country's international trade and commerce. She emphasized the role of ECGC in ensuring the smooth functioning of business operations and promoting exports from India.

Ms. Sitharaman's remarks come at a time when India is negotiating several key FTAs with different countries. These include agreements with the United Kingdom, the European Union, Australia, and Canada. Efficient regulatory processes are crucial for these agreements to deliver the intended economic benefits and boost India's international trade.

The minister's comments provide a reminder of the need for effective coordination between government agencies, involved stakeholders, and negotiators to ensure that regulatory clearances for FTAs are concluded swiftly and smoothly.

Ultimately, Ms. Sitharaman's comments underscore the Government of India's commitment to fostering a business environment that is conducive to international trade and sustainable economic growth.

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