Leverage Trade Agreements for Export Boost, Urges Piyush Goyal
Commerce and Industry Minister Piyush Goyal encourages exporters to capitalize on Free Trade Agreements with developed countries. The agreements aim to benefit India's farmers, workers, and MSMEs by offering preferential global market access. Key sectors like textiles, gems, and engineering goods stand to gain significantly.
- Country:
- India
Commerce and Industry Minister Piyush Goyal on Wednesday called on exporters to fully utilize the Free Trade Agreements (FTAs) inked with developed nations, designed to enhance India's export capabilities.
In a meeting with representatives from 35 export promotion councils and industry associations, Goyal emphasized the need for the industry to explore new market frontiers, enhance quality, and boost competitiveness. The minister highlighted the FTAs as a strategic move to aid India's farmers, workers, and MSMEs in accessing the global market with preferential terms.
Additionally, Goyal noted that these agreements present global opportunities for India's traditional medicines and yoga, while safeguarding agriculture and dairy interests. Exporters and industry representatives pointed out the significant impact of tariff relief, especially from the United States, on sectors like gems and jewellery, textiles, and engineering goods, which has restored business confidence and employment.
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