(MENAFN- Trend News Agency)
Union Commerce and Industry Minister Piyush Goyal interacted
with representatives of Export Promotion Councils and Industry
associations to review the issues related to exports.
Speaking to Export Promotion Councils (EPCs) and Industry
representatives, Minister stated that the ball is in our court and
we have to be ready to take on global competition. He said that
Government is doing its best through various measures to support
Indian exporters to compete globally, according to an official
statement released by the Ministry of Commerce & Industry.
Enumerating initiatives taken, Goyal highlighted that with Gati
Shakti, the government is improving connectivity and logistics. The
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, he added. He emphasized
that everybody will have to work hard to achieve true potential of
India in terms of global trade, the minister said.
Goyal pointed out that during the financial year 2021-22 India's
merchandise exports rose to a record high of $422 billion and
all-time total exports of $667 billion – an increase of 34.5 per
cent over the previous year.
By July 2022, exports have reached $156 billion (19 per cent
higher) – Engineering goods exports $38 billion (8 per cent
higher); Readymade garment (22 per cent higher), Agri exports grew
by almost 20 per cent till July 2022, driven by rice, marine
products & sugar, the minister said.
Stating that the Government has been increasing its
international engagement, the Minister underlined the importance of
Free Trade Agreements (FTAs). In this context, he urged the
industry representatives to study FTAs and identify the areas which
have a competitive advantage.
He hoped for an agreement on a multidimensional partnership with
UK this year. Minister also appealed to representatives from the
industry to take advantage of PM Gati Shakti, PLI, NSWS, EoDB
reforms to improve export competitiveness with respect to other
manufacturing powerhouses.
During the meeting, a presentation was made on the National
Single window system. This scheme is being run by the Ministry of
Commerce and Industry to facilitate ease of doing business. Since
its inception last year, around 10,000 approvals have already been
given under it. (ANI)
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