India to organise trade fairs in FTA partner countries to boost exports, global market access: Piyush Goyal
New Delhi, November 13
India is planning to organise sector-specific and multi-sector trade exhibitions across international markets, particularly in countries with which it has Free Trade Agreements, to help domestic exporters, startups and businesses tap new overseas opportunities, Union Commerce and Industry Minister Piyush Goyal announced on Friday.
Speaking at the inauguration of the 45th India International Trade Fair (IITF) at Bharat Mandapam in New Delhi, Goyal said the India Trade Promotion Organisation (ITPO) was preparing to take the trade fair beyond India's borders.
"This IITF is now going to be taken across the world. ITPO is planning several international fairs, sectoral or multi-dimensional, across the world, where Indian goods, Indian services, Indian startups will be showcased," he said.
The minister said these exhibitions would provide Indian businesses opportunities to engage with overseas markets, particularly in developed countries and other nations where India has signed trade agreements.
Highlighting the growing opportunities under India's expanding network of FTAs, Goyal urged manufacturers, artisans and exporters to utilise preferential market access.
"Markets are now open for us. We have to walk through the doors of those markets," he said.
Goyal emphasised that Indian businesses should explore opportunities to export products showcased at IITF, including handicrafts, handloom products, agricultural goods and other district-specific products.
He also highlighted India's strong export performance, expressing confidence that the country would cross the USD 1 trillion export milestone during the current financial year.
"We are well on track to achieve the 1 trillion dollar target this year with seven month performance up to October now showing an export of 570 billion dollars in seven months. It has never happened before," he said.
The minister projected India's international trade growth at 15-16 per cent during the current financial year, compared with expected global trade growth of around 3-3.5 per cent.
The 45th IITF, scheduled from November 14 to 27, will feature over 3,500 exhibitors from India and abroad, with participation from 32 states and Union Territories and 11 countries.
The event will also showcase around 600 startups through the Hall of Inspiration and district-level products under the One District One Product initiative.
Goyal stressed that quality and sustainability would remain central to India's efforts to strengthen its competitiveness in international markets.
— ANI
Leave a comment