Home / News / India /  Goyal urges industry to study FTAs and identify competitive advantage
Listen to this article

BENGALURU : Commerce and Industry Minister Piyush Goyal on Friday urged industry to study the free trade agreements (FTA) that India has signed and identify areas of competitive advantage to benefit from the agreements.

Speaking during an interactive meeting with export promotion Councils and representatives of industry associations on Friday, Goyal stressed emphasized on a ‘Whole of Government’ approach to boost exports, suggesting that it would require exporters, export promotion councils, government agencies, and Indian Missions abroad to work together.

India has so far signed an FTA with the UAE, which came into force in May and has also signed an interim FTA with Australia, which is yet to come into effect. India is currently negotiating FTAs with the UK, EU, Canada, and Israel.

Goyal highlighted that the government was doing its best through various measures to support Indian exporters to compete globally. "Enumerating initiatives taken, he highlighted that with Gati Shakti, government is improving connectivity and logistics. Government is also negotiating to sign more FTAs with important trade partners. This will have a direct impact in providing a level playing field in international markets" according to the press release by the ministry of commerce and industry.

Goyal also urged the industry representatives to leverage on PM Gati Shakti, production linked incentive scheme, and ease of doing business reforms to improve export competitiveness with respect to other manufacturing powerhouses.

Goyal pointed out that export promotion councils and industry associations are key to realise “Local goes Global: India makes for the World".

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout