Boosting Export Growth: Leveraging FTAs & Navigating EU Regulations
Commerce and Industry Minister Piyush Goyal urged exporters to increase the utilization of free trade agreements (FTAs) and offered support in navigating EU regulations. Discussions also covered proposed exporters' portal and strategies to enhance exports of services and goods. Trade talks with the EU are progressing, aiming to conclude soon.
- Country:
- India
At a crucial meeting on Tuesday, Commerce and Industry Minister Piyush Goyal interacted with exporters regarding the expansion of India's trade footprint. A prominent focus was the push for increased utilization of free trade agreements (FTAs) with significant partners like the US and the EU.
The ministry pledged support to mitigate challenges posed by EU regulations, such as the Digital Product Passport (DPP), which impact compliance costs. Goyal emphasized the readiness of labor-intensive sectors to benefit from increased market access through FTAs.
Additionally, the planned centralised exporters' portal and strategies to enhance exports of value-added goods were on the agenda. The meeting also highlighted the ongoing negotiations for trade agreements with countries like Chile and New Zealand, along with rapid progress in talks with the EU.
(With inputs from agencies.)
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