Fta, Video game

In his address to Export Promotion Council leaders in Mumbai, Union Minister Piyush Goyal on Thursday lauded exporters for engaging with new products, services and markets and said that exports in July 2021 were worth 35 billion dollars which is the highest ever monthly figure.Speaking at the event, Goyal said, "EPCs have served selflessly during challenging times of COVID. We stayed true to our markets and targets and have been able to garner the trust of the world. We are well on track to achieve the targets set by PM Narendra Modi ji and will showcase to the world India at its best.""We are proud of our exporters for achieving record trade volumes in April-July 2021. July 2021 exports were the highest ever monthly figures in Indian history at 35 billion dollars. I would like to assure you that we will not repeat the same mistakes as on a few FTAs in the past. We will bring in an element of reciprocity. But we will have to open our markets to others if we want a share of theirs," said the Union Minister.Further, the minister said, "It is singularly the goodwill of PM Narendra Modi ji that has got us back on the negotiating table with the European Union (EU) on free trade agreements (FTA). I see an early win with Australia. I'm positive about the UK. I would urge you to study your quality standards and also that of the export markets and work towards aligning them. Let us accept and adopt quality standards and start building our industries to meet global benchmarks."The Union Minister urged each EPC to study the existing FTAs and see whether there are hidden opportunities in them. "It will help us set significantly higher export targets for 2022-23," he said.Two areas where significant opportunities exist are that of shipping and semi-conductors, the Union Minister said and added that this will help us realise our goal of Aatmanirbhar Bharat."The Dubai Expo offers a great opportunity for exporters to help expand their reach. I would urge EPCs to make their presence felt there. Remission of Duties and Taxes on Exported Products (RoDTEP) rates are out. But we will have an open mind to consider concerns and rectify mistakes that might have crept in if anyone feels it is detrimental to their industry," he said.Lastly, the Union Minister in his address said that they are setting up two separate divisions in the Commerce Ministry focused on the services sector. "Our effort is to achieve 1 trillion dollar target for the services sector." he said.Speaking to reporters today after his address to the leaders, Goyal said, "Exporters are engaging with new products, new services and new markets. We are all empowered and enthused by PM Modi. From the Red Fort on August 15, he spoke about India's exports. We all are charged up about the future endeavors.""Discussions were held with all the exporting companies of the country and the Export Promotion Council. What steps should be taken, how business is doing this year were among the topics discussed. There were areas wherein we thought that we can help more on behalf of the government. All discussions were held in detail. We aim to promote Atmanirbhar Bharat," said the Minister of Commerce and Industry.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

FtaFOLLOW

Fta, Latest News

Expressing India's willingness to expand economic relations with the US, Union Minister of Commerce Piyush Goyal said New Delhi is ready to extend its trade ties with Washington in the spirit of reciprocity and equality. ...

Taiwan on Wednesday filed an official application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade group, local media reported. ...

The Malaysian government says it "looks forward to welcoming" China's entry into the 11-nation Trans-Pacific Partnership trade pact, a media report said on Monday. ...

India and UK aim to launch negotiations on free trade agreement (FTA) by November 1 this year. The two sides look for an Interim agreement by March 22 and later a comprehensive agreement. ...

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal on Tuesday underlined the importance of cross-border connectivity among India and developing nations of South-East Asia, read a statement from the ministry. ...

India and UK aim to launch negotiations on free trade agreement (FTA) by November 1 this year. The two sides look for an Interim agreement by March 22 and later a comprehensive agreement. ...

External Affairs Minister S Jaishankar on Tuesday said that the strategic convergence between India and the European Union (EU) is reflected in "our positions" on key regional and global issues, including on Afghanistan and the Indo-Pacific. ...

In his address to Export Promotion Council leaders in Mumbai, Union Minister Piyush Goyal on Thursday lauded exporters for engaging with new products, services, and markets and said that exports in July 2021 were worth 35 billion dollars which is the ...