Indian FTAs being reassessed
Updated: May 13, 2013 02:33:20pm
Hyderabad, May 13 (KNN) To determine the impact of the existing free trade agreements on the country’s export-import status, a review of the agreements is currently in progress.
“We have not set any timeframe to complete these reviews. The basic objective is to determine if there are any hurdles and what inputs need to be introduced for further trade growth,” said a media report quoting Union Minister of State for Commerce and Industry D Purandeswari.
Speaking at a seminar on export growth in Andhra Pradesh here today, she said the exercise of reviewing FTAs would help the country during on-going negotiations for new agreements with some of the newly emerging markets.
“We are now sharpening focus on the emerging markets for exports, with the traditional markets in the US and Europe still to recover to the desired level,” she said.
Meanwhile, Director-General and CEO of the Federation of Indian Export Organisations (FIEO), Ajay Sahai said that in the current fiscal, Indian exports were expected to grow at 10 - 15 per cent.
He acknowledged that export growth at a turnover of almost USD 300 million was marginal last fiscal.
“The share of new markets in our export turnover has increased, especially Latin America and Africa,” he said.
FIEO has been conducting studies of every state with regard to their export market, potential, products and competition. Beginning with Andhra Pradesh, the study of which is expected to be completed by September, the industry body intends to do the same with Uttar Pradesh, Madhya Pradesh and Jharkhand next year.
“The studies will cover the export potential of the State, the types of products that can be exported, the trade and non-trade barriers and competition from other countries,” Sahai said.
As far as Andhra Pradesh was concerned, the state is currently working on a new export policy to drive exports, especially in the fields of value-added products in the engineering, pharma and food processing sectors, according to AP Minister for Major Industries and Export Promotion, J Geeta Reddy. (KNN)
“We have not set any timeframe to complete these reviews. The basic objective is to determine if there are any hurdles and what inputs need to be introduced for further trade growth,” said a media report quoting Union Minister of State for Commerce and Industry D Purandeswari.
Speaking at a seminar on export growth in Andhra Pradesh here today, she said the exercise of reviewing FTAs would help the country during on-going negotiations for new agreements with some of the newly emerging markets.
“We are now sharpening focus on the emerging markets for exports, with the traditional markets in the US and Europe still to recover to the desired level,” she said.
Meanwhile, Director-General and CEO of the Federation of Indian Export Organisations (FIEO), Ajay Sahai said that in the current fiscal, Indian exports were expected to grow at 10 - 15 per cent.
He acknowledged that export growth at a turnover of almost USD 300 million was marginal last fiscal.
“The share of new markets in our export turnover has increased, especially Latin America and Africa,” he said.
FIEO has been conducting studies of every state with regard to their export market, potential, products and competition. Beginning with Andhra Pradesh, the study of which is expected to be completed by September, the industry body intends to do the same with Uttar Pradesh, Madhya Pradesh and Jharkhand next year.
“The studies will cover the export potential of the State, the types of products that can be exported, the trade and non-trade barriers and competition from other countries,” Sahai said.
As far as Andhra Pradesh was concerned, the state is currently working on a new export policy to drive exports, especially in the fields of value-added products in the engineering, pharma and food processing sectors, according to AP Minister for Major Industries and Export Promotion, J Geeta Reddy. (KNN)
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