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Minister of state for commerce and industry Anupriya Patel has said that India is fast-tracking negotiations for proposed free trade agreements (FTAs) with certain developed countries like the UK as well as with the European Union, and maybe by this year end, the government would be able to give a final shape to few of these pacts.

The minister also expressed hope that the trade pact with Australia would be operationalised ‘very soon’.  She also said India has already implemented a trade agreement with the UAE. She said these agreements will create better opportunities for domestic businesses.

Meanwhile, the minister has launched the Indian Business Portal of exporters' body Federation of Indian Export Organisations (FIEO). She said the portal is a B2B digital marketplace to empower SME (Small and Medium Enterprise) exporters, artisans and farmers to identify new markets for their products and grow their sales globally. She also said that the portal will address issues like digitising exporters, supporting MSMEs (Micro, Small and Medium Enterprises) and encouraging greater exports of products made in India.