Piyush Goyal Sets FTA Agenda At Latest Exporters Meet

Union Commerce and Industry Minister Piyush Goyal chaired a meeting with export promotion councils and industry associations on Monday with a special focus on free trade agreements.

The minister and various officials urged exporters to capitalise on the various FTAs concluded in the past, status and challenges in utilisation of such FTAs, opportunities created by the recently concluded FTAs and heard views and expectations for the proposed and ongoing FTA negotiations with various countries like Peru, New Zealand and the EU.

The session also featured presentations from the Department of Commerce on the performance of SEZs and the recent reforms undertaken as well as further reforms proposed, according to an official release.

The objective of the proposed reforms was to simplify the procedures, increase economies of scales, utilise the idle capacities at SEZs to realise the objectives of the country for achieving the $5 trillion economy by 2027.

Various representatives of textile, apparel, engineering, gems and jewellery, medical devices and leather exporters, attended the meeting, alongside Assocham and the Federation of Indian Exporters Organisation.

Goyal urged the industry to ramp up their manufacturing capabilities, diversify supply chains and reduce import dependency.

Exporters also urged the government for early conclusion of talks for the proposed trade agreements with the US and European Union, stating it would help boost the country's shipments, PTI reported.

The minister said talks are on for the first phase of bilateral trade agreement with the US, the news agency reported.