NewKerala.com

Vadodara Traders Cheer India-EU Trade Deal, Seek Growth Budget

Traders in Vadodara have welcomed the India-European Union Free Trade Agreement, seeing it as a key opportunity to strengthen exports and access European markets. Business leader Ramesh Patel stated the agreement reflects India's strategic response to global trade pressures and thanked the Prime Minister for the initiative. Ahead of the Union Budget, the Vadodara Trade Development Organisation has submitted demands including tax relief, GST simplification, and enhanced credit for MSMEs. The association believes a supportive budget will provide crucial momentum for local trade and industry growth.

Key Points: India-EU FTA Hailed by Vadodara Traders, Budget Demands

  • India-EU FTA to boost exports & access European markets
  • Traders seek income & corporate tax relief in Budget
  • Demands include GST simplification & faster refunds
  • MSMEs need credit support & infrastructure upgrades
2 min read

Vadodara traders hail India-EU free trade agreement, expect 'supportive' Union Budget

Vadodara business leaders welcome India-EU free trade agreement, see export boost. Ahead of Budget, they demand tax relief, GST simplification, and MSME support.

"The agreement reflects India's evolving trade strategy amid tariff pressures from the US. - Ramesh Patel"

Vadodara, Jan 29

The signing of the Free Trade Agreement between India and the European Union has been welcomed by traders in Gujarat's Vadodara, who see it as a positive development for domestic trade and exports.

Business leaders believe the agreement will help Indian exporters access European markets while reducing the impact of rising global trade barriers.

Ramesh Patel, Vadodara Trade Development Organisation President and Advisor to Confederation of All India Traders (CAIT) Gujarat, said the agreement reflects India's evolving trade strategy amid tariff pressures from the US.

He said that the EU agreement would strengthen India's export ecosystem and create new opportunities for local traders.

Patel thanked Prime Minister Narendra Modi for the initiative, saying the agreement would help Indian businesses expand globally and remain competitive.

He added that the move would be particularly beneficial for traders and MSMEs in Vadodara.

Local traders also expressed optimism, noting that the agreement could boost exports across sectors such as engineering goods, chemicals, pharmaceuticals, and textiles.

Ahead of the Union Budget, the Vadodara Trade Development Organisation has placed its key demands before the government.

In a meeting of traders and industry representatives, the association highlighted the need for tax relief to stimulate growth.

The organisation has called for reductions in income tax rates, corporate tax relief, and special incentives for the MSME sector.

It has also urged the Union government to simplify the GST system, expedite return filing, and ensure faster refunds.

Additional demands include easier access to low-interest loans and enhanced credit support for MSMEs, improvement in infrastructure such as roads, logistics, and port facilities, promotion of exports, digital and technological upgradation, tax incentives for startups, and policies focused on employment generation.

Association leaders said a growth-oriented budget would provide much-needed momentum to trade and industry in Vadodara.

- IANS

Share this article:

Reader Comments

S
Sarah B
As someone who works in international trade, this FTA is a strategic masterstroke. Reducing dependency on the US market and diversifying to the EU is crucial for long-term stability. The focus on simplifying GST is the real need of the hour though.
A
Ananya R
Good step, but I hope our local businesses are truly ready to meet EU quality and compliance standards. It's not just about access, it's about being competitive. The budget must allocate funds for tech upgradation and skill development for small traders.
V
Vikram M
Finally some positive news for traders! The demands are spot on - lower taxes, simpler GST, and better infrastructure. If the government listens, it can create lakhs of jobs. Jai Hind!
M
Michael C
While the FTA is promising, the article reads a bit like a press release. I'd like to see more critical analysis. What concessions did India have to make? How will it affect local consumers? A balanced view would be helpful.
P
Priya S
My father has a small textile unit in Vadodara. He's been struggling with high input costs and slow refunds. This agreement and a supportive budget could be a game-changer for families like ours. Fingers crossed! 🙏

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50