Central Commerce and Industry Minister Piyush Goyal urged Telangana to fully utilize the FTA.

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Speaking at the National Trade Forum held in Hyderabad, Union Commerce and Industry Minister Piyush Goyal called on Telangana to make “maximum” use of foreign free trade agreements (FTAs). He said that India has signed FTAs ​​with many major countries in Asia-Pacific, South-East Asia and Europe, which provide important opportunities to make Indian goods competitive in international markets. Telangana, which is a leader in industrial production, pharmaceuticals, information technology and agro-based goods, can use these agreements to increase exports and accelerate the economic growth of the state.

During his interaction with key representatives of the Assembly and industrialists, the Minister informed that the tariff reduction and relaxation in non-tariff barriers under the FTA will provide new opportunities to small and medium enterprises (SMEs) of Telangana to integrate into the global supply chain. He advised the state government to implement necessary policy reforms, such as expansion of export promotion schemes, investment in infrastructure and simplification of digital customs processes. In this direction, the Center has already started initiatives like ‘Digital Trade Facades’ and ‘Export Eases’, which provide fast and transparent process to exporters.

Finally, Goyal said that effective use of FTAs ​​will not only lead to revenue growth but also employment generation and technological advancement.