Union Minister of Commerce and Industry Piyush Goyal urged Telangana to make greater use of the FTA

Union Minister of Commerce and Industry, Shri Piyush Goyal, met with representatives of the Telangana industrial community today and conveyed that the state’s export capacity can be taken to new heights by fully leveraging all provisions available under Free Trade Agreements (FTAs). During the event, the Minister discussed key industries in Telangana, particularly the automobile, pharmaceutical, and textile sectors.

Minister Goyal stated that the India-US, India-EU, and India-Australia trade agreements under FTAs offer benefits such as significant reductions in import duties and simplification of customs procedures. He emphasized that Telangana’s industries should use these benefits to present their products at competitive prices in international markets.

Additionally, the Minister advised the Telangana government to prominently incorporate FTA provisions into the state’s industrial policy. He noted that zero or lower tariffs are applied to certain specific products under FTAs, resulting in substantial cost savings for exporters. In this regard, he suggested that Telangana should raise awareness among its exporters about the benefits available under FTAs and provide them with assistance in necessary documentation procedures.

The Minister also informed that quota or preferential treatment (PT) facilities are available for certain products under FTAs, which can help exporters secure a better position in the market. He stated that it is essential for Telangana’s industries to meet the required certificates and standards for exports to avail of these provisions.

During the meeting, Minister Goyal also mentioned that the Telangana government should establish a dedicated export center for products falling under FTAs, where exporters can receive assistance with necessary clearances, customs, and other formalities. He also stated that the state government should regularly inform exporters about the benefits of FTAs.

The Minister further stated that zero tariffs are applied to certain products under FTAs, leading to significant cost savings for exporters. He also said that Telangana should make its exporters aware of the products covered under FTA provisions.

The Minister also reminded Telangana’s industrial community that in addition to tariff reductions, compliance with quality standards and certificates is required for products under FTAs. He also stated that Telangana should provide assistance to exporters for meeting these standards and obtaining certificates.

Minister Goyal also mentioned that zero tariffs are applied to certain products under FTAs, resulting in substantial cost savings for exporters. He also said that Telangana should make its exporters aware of the products covered under FTA provisions.

The Minister further stated that zero tariffs are applied to certain products under FTAs, leading to significant cost savings for exporters. He also said that Telangana should make its exporters aware of the products covered under FTA provisions.

At the end of the event, Minister Goyal urged Telangana’s industries to fully utilize FTA provisions to present their products at competitive prices in the global market. He stated that this step would play a crucial role in enhancing Telangana’s export capacity and strengthening the state’s economic growth.