India asking for renegotiation of FTAs with Japan, South Korea

NEW DELHI, July 30 ------ India has asked Japan and South Korea to renegotiate their free-trade agreements (FTAs) with the South Asian nation to make it "more balanced and equitable", India's trade minister said, amid a widening trade gap with the countries.

“Japan and Korea - we opened our markets for them. They have not allowed our exports to their country. What it was 10 years ago, it is the same today with Japan," Trade Minister Piyush Goyal said at an event in New Delhi. Japan's exports to India have, meanwhile, grown 200 per cent, he added.

Goyal also termed India's free trade agreement with the Association of Southeast Asian Nations (ASEAN) "ill-conceived" and "unfair" to the Indian industry.

Source: reuters.com