NEW DELHI: India has asked South Korea and Japan to renegotiate its free trade agreement (FTA) with them to make it fair, equitable and balanced, commerce minister Piyush Goyal said Thursday.
“We opened our markets to Japan and Korea. They have not allowed our exports to their countries. Our exports to Japan have not grown at all what it was 10 years ago, it is the same today. Their exports to India have grown 200%,” Goyal said at an event.
Meanwhile, the minister also called India’s FTAs with 10 countries of the Association of Southeast Asian Nations (ASEAN) most “ill-conceived” and “unfair” to Indian industry. “I said if you meet our demands we are with you, if you can’t, we can’t agree to your requests.”