Commerce and Industry Minister on Friday mentioned that there are a lot of non-tariff barriers that need to be addressed and wherever India will face unfair treatment at trade front, it will take reciprocal/tit for tat action.

Non-tariff barriers to trade are restrictive practices that create impediments in the smooth flow of imports and exports. "Trade today requires a lot of studies, deep-diving into what practices other countries follow.

There are a lot of non-tariff barriers that need to be addressed, we need to work to resolve those barriers. Wherever we will find unfair, unjust treatment to India, India will have to take reciprocal action," he said. The minister said India is negotiating free trade agreements with several countries including the UK, UAE and Australia and young talents from IIFT can help in achieving the transformational agenda for India's international trade. On the country's exports, Goyal exuded confidence that the country will achieve the USD 400 billion target for this fiscal.

"We are confident of achieving this year. We have already done USD197 billion in six months. We are aspiring to go up to USD1 trillion in the near future, each for goods and services...For this we need thousands of young boys and girls coming out from IIFT," he added. Goyal also called for free trade within a rules-based multilateral trading system with honesty and transparency as core values. Further, he said during FTA talks, the subject of dual degrees and collaborations with IIFT come up for discussions.

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