Thailand’s deputy prime minister and minister of industry Kosit Panpiemras (left) with commerce minister Kamal Nath (centre) and panchayatraj minister Mani Shankar Aiyar in New Delhi on Friday. (PTI)

New Delhi, Aug. 31: India and Australia have agreed to look into the feasibility of a free trade agreement (FTA).

“The FTA feasibility study is a natural extension of the Australian government’s efforts to look at ways to tap the potential of India’s rise as a major economic power,” Australian trade minister Warren Truss said in a statement on Friday.

India is also planning to conclude an FTA with Thailand this year.

“The FTA (with Thailand) is (moving) towards conclusion. We hope to conclude it in two months,” commerce minister Kamal Nath said after talks with Thai deputy premier and industry minister Kosit Panpiemras.