Leverage FTAs to widen market access: Piyush Goyal

New Delhi: Commerce and Industry Minister Piyush Goyal on Monday met exporters and industry bodies to discuss measures to increase the country's shipments and better leverage free trade pacts.

Exporters sought extension of validity of authorisations up to August 31, 2026, in line with the extension already granted for export obligation fulfilment amid the ongoing West Asia crisis.

They also sought the expansion of trade relief measures announced by the Reserve Bank of India to more sectors, as against 20 product categories at present.


"Discussed sector-specific priorities and heard their constructive feedback on enabling more Indian businesses to export and unlock opportunities in the global trade landscape," Goyal said in a social media post. "Also, explored avenues for exporters to leverage the various FTAs India has concluded in the recent past to widen market access and boost exports."

An industry representative said issues related to covering the quality compliance costs for micro, small and medium enterprises were discussed at the meeting, besides developing districts as export hubs and export promotion councils reaching out to villages to train them on how to export and get loans.

"Concerns about charges levied by global shipping lines and containers stuck at ports were taken up. Stakeholders also discussed the importance of having an Indian shipping line," said another industry representative.

India's goods exports in March fell by 7.44% year-on-year to $38.92 billion due to trade uncertainty and geopolitical tensions, with shipments to West Asia contracting by more than 50%.