Piyush Goyal Urges Exporters to Capitalize on Free Trade Agreements
Commerce and Industry Minister Piyush Goyal has called upon exporters to seize the opportunities presented by recently concluded Free Trade Agreements (FTAs) with developed countries. During a meeting held on Wednesday, Goyal emphasized the need for industry stakeholders to intensify efforts in penetrating new markets, upgrading product quality, and enhancing competitiveness to maximize the benefits of these trade pacts.
Boosting Exports and Creating Jobs
Goyal highlighted that the government has strategically signed FTAs to empower India's farmers, workers, professionals, artisans, and Micro, Small, and Medium Enterprises (MSMEs). These agreements provide preferential access to global markets, enabling these sectors to thrive internationally. The minister stressed that leveraging these FTAs is crucial for boosting exports of goods and services, which in turn will help create numerous job opportunities across the country.
Protecting Key Sectors and Promoting Traditional Practices
According to a statement from the commerce ministry, the FTAs have been designed to safeguard the interests of India's agriculture and dairy sectors while opening up global opportunities for traditional medicines and yoga. This dual approach ensures that sensitive domestic industries are protected while promoting India's cultural and wellness exports on the world stage.
Industry Collaboration for Market Penetration
The meeting included representatives from 35 major export promotion councils and industry associations, underscoring the importance of collaborative efforts. Goyal urged these entities to work together to identify and exploit new market avenues, ensuring that Indian products and services gain a competitive edge in international trade.
By taking full advantage of the FTAs, exporters can not only enhance India's economic growth but also contribute significantly to global trade dynamics, fostering a more robust and diversified export ecosystem.
