Minister wants CII to establish FTA desks across State Council to help MSMEs
India would achieve the USD 1 trillion export target, noting that the target has been set not merely by the government but by the people and businesses of India, including 63 million MSMEs, large and small industries, global capability centres and around 250,000 startups, Minister of Commerce and Industry Piyush Goyal has told delegates at an industry summit.
He also informed delegates at the 31st CII Partnership Summit in New Delhi on 8 Oct that the Reserve Bank of India had once again raised its growth projections for the current year and expressed confidence that India would continue to grow at over 7 per cent and remain the fastest-growing large economy.
“India began building bridges when the world was building walls” while addressing the curtain raiser of. He noted that India recorded USD863 billion in exports last year and has set itself the target of achieving USD1 trillion in exports in the current year. “This would represent nearly 16 per cent growth in a year when international trade is expected to grow by only around 2.5 to 3 per cent, while the global economy remains vulnerable to shocks and global growth is expected to fall below 3 per cent,”
The Minister attended the curtain raiser along with Chief Minister of Andhra Pradesh Shri Chandrababu Naidu. The Partnership Summit will be held in Visakhapatnam on 12th and 13th November.
Urging countries to participate in the Summit, Goyal said the event would provide an opportunity to look at the India story through the lens of growth, opportunity and partnership. He urged the distinguished guests to ensure that their countries send strong delegations to Visakhapatnam and participate in the various programmes, panels, discussions and formal and informal networking opportunities offered by the Partnership Summit.
He urged CII to establish FTA utilisation desks across every State Council to help MSMEs effectively use Free Trade Agreements, understand new market access opportunities and rules of origin, join delegations, participate in exhibitions and conferences, and showcase their products, technologies and offerings to global markets.
He assured that every free trade agreement and other agreement entered into by India protects sensitive sectors, particularly Indian agriculture, fishermen and MSMEs, while opening up opportunities for exports of agricultural products, fisheries and marine products, high-precision items, engineering products and electronic products made by MSMEs. These agreements also open investment opportunities for countries and companies to come to India and participate in the growth of the world’s largest market.
Goyal said India’s economy, currently around USD4 trillion, has the potential to grow to USD30 trillion by 2047. He highlighted India’s youthful and aspirational population and its desire for a better quality of life for itself and its families.
On technology, the Minister said India does not shy away from new-age technologies and adopts the best-of-class global technology developments. He said the country has moved beyond concerns that new technologies could lead to job losses and now has the courage of conviction that these technologies will create new opportunities for India’s talented youth.
He said India would leverage new technologies to offer its talent and skills to the world, improve efficiency and productivity, make Indian goods and services more competitive globally, and create opportunities for youth in areas including cyber security and applications built around emerging technologies. He expressed confidence that Indian industry and the people of India would leverage technological upgradation to the advantage of 1.4 billion Indians by opening newer opportunities in jobs, business and entrepreneurship.
The Minister said Indian industry is focused on remaining ahead through cutting-edge technology, progressing on carbon mitigation towards sustainability goals and benefiting from labour reforms that enable industry to prosper while providing Indian labour with social security, good salaries, wages and amenities for a better lifestyle. He said the government is continuously working on ease of doing business measures, good governance and dialogue between industry and government to meet the aspirations and needs of industry and the exacting global standards that India is now willing to adopt and engage with.
Goyal pointed out that Google’s first AI hub is coming up in Visakhapatnam, where the Partnership Summit will be held, while Amaravati is becoming a quantum valley. He said Chandrababu Naidu continues to focus on ease of doing business to promote investments and growth in Andhra Pradesh and the well-being and welfare of every person in the State.
He described this as “Team India at its best”, with the Centre and State working together, the Central Government opening global markets through free trade agreements and other opportunities, and Andhra Pradesh converting these opportunities into factories, data centres and jobs. He said Andhra Pradesh and its people have made India proud through their achievements at home and across the world. Referring to the discussion on AI, quantum computing and the growing influence of technology, he highlighted the contribution of people from Andhra Pradesh across the world in their chosen professions and their abilities in numbers and science, technology and mathematics.
Goyal concluded by saying that India today is aspirational, Indian business is confident and the country is commanding global respect. Fiinews.com
