New Delhi [India], 25 November : India and Canada have agreed to formally resume negotiations on a Comprehensive Economic Partnership Agreement (CEPA), Commerce and Industry Minister Piyush Goyal said on Tuesday.
Addressing the National Trade Leaders Conference organized by the Confederation of All India Traders here on Tuesday.
Goyal revealed that he received a message from his Canadian counterpart expressing satisfaction over the leaders' commitment to strengthening economic ties between the two nations. "Will have a virtual meeting with the Canadian Minister and start discussions on comprehensive economic partnership between the two countries," Goyal said.
The decision to revive trade talks came after Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney met on the sidelines of the G20 Leaders' Summit in Johannesburg, the minister informed.
Highlighting India's growing prominence in global trade, Goyal said the world is eager to begin Free Trade Agreement (FTA) negotiations with India. The minister announced that talks would soon commence with several African nations, Brazil, and MERCOSUR countries for potential trade agreements.
Goyal recently returned from an official visit to Israel, where he signed the Terms of Reference for an FTA. During the trip, he also met with the Israeli Prime Minister and President.
On the recently implemented labour codes, the minister emphasised their benefits for both workers and employers. "Labour codes address gig workers' needs, and 29 laws have been simplified," Goyal said, adding that the reforms would reduce paperwork and approval requirements.
He noted that the codes include a minimum wage guarantee and also address employers' concerns.
The minister announced that the government is preparing the Jan Vishwas Bill 3.0, which will eliminate 275-300 provisions to ease the regulatory burden on businesses. "The bill is almost ready," he stated.
Goyal also proposed exploring a pilot program for a single license system for traders at the local body and state government levels, aimed at simplifying business operations for the trading community.
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