SME Times News Bureau | 12 May, 2022
Exports play a crucial role in realizing
Atmanirbhar Bharat, said Union Minister of Parliamentary
Affairs, Coal and Mines Prahlad Joshi who addressed the outreach Programme on India-UAE CEPA
and India-Australia ECTA organized by Department of Commerce on Thursday in Bengaluru.
Joshi highlighted the various initiatives and reforms being undertaken by
the Government of India to further improve the ease of doing business; the
significant milestones achieved in the form of the record high annual exports
of goods and services in the current year of around US$ 674 billion; and
finally delineated the immense advantages of the State of Karnataka.
The Department of Commerce,
in coordination with the Industries and Karnataka Government Commerce Department and the Services Export Promotion Council (SEPC), and other
Apex Industry Bodies, Export Promotion Councils, Local Chambers of Commerce and
Industry, organized a Stakeholders’ Outreach Programme on India-United Arab
Emirates Comprehensive Economic Partnership Agreement (CEPA) and India-Australia
Economic Cooperation and Trade Agreement (ECTA) today, at Hotel Shangri La,
Palace Road, Vasanth Nagar, Bengaluru, Karnataka.
States outreach programmes are part of series of
concerted and coordinated efforts being made by the Department of Commerce,
Government of India, to sensitize and create awareness amongst exporters across
the country on the conducive platform and the favourable trade ecosystem that
is being created with conclusion of these landmark Trade Agreements with
partners countries exhibiting significant trade complementarities with India.
This particular outreach event was exclusively meant for local industry and
exporters, particularly from the MSME sector, from the State of Karnataka.
Given the importance of the event and the potential for immense benefits for
the industry participants, the event witnessed participation of over 200
businessmen from the State of Karnataka, cutting across industry segments and
As part of the event, two panel discussions were
also conducted with the participation from Industry representatives.
panelists discussed ways and means of leveraging on the strengths of Karnataka,
as a leading export hub, and optimizing the gains from the Trade Agreements in
exports of both goods and services. Further, there was participation from
various sectors of industry such as Engineering, Pharmaceuticals, Gems and
Jewellery, Textiles, IT&ITES, Mining & Minerals, Education services,
and R&D etc.
Delivering the welcome remarks, Abhay Sinha,
Director General, SEPC provided an overview of the two recently concluded
landmark trade agreements, viz., India-UAE CEPA and India-Australia ECTA and
succinctly highlighted the benefits that can accrue to the exporters from the
State of Karnataka.
Darpan Jain, Joint Secretary, Department of
Commerce, delivered a comprehensive presentation, which elaborated on the
various aspects of the Trade Agreements and explained in detail the concessions
on goods and services exchanged by India with the UAE and Australia, measures
incorporated for facilitation of bilateral trade, safeguards that have been
placed to protect the Industry, and projected gains in exports, GDP, and
employment across various sectors, particularly the labour intensive ones.
need to diversify India’s services export basket, presently dominated by
IT/ITeS, was emphasized and potential benefits in various services sectors
arising from these FTAs were highlighted. These include Professional Services,
Business Services, Audio Visual Services, Education Services, Health Services,
E.V.Ramana Reddy, Additional Chief Secretary, Government
of Karnataka, provided an overview of the Industrial profile of Karnataka and
also spoke about the huge latent potential of the State, which is already a
powerhouse of IT/ITES, ranking first in the country in IT/ITES exports.
expressed optimism at the prospect of the State deriving benefits from these
Trade Agreements on the back of its own immense advantages. He also shared a
statistical snapshot of Karnataka, including an overview of the macroeconomic
indicators, external sector performance, and a summary compilation of top goods
and services exported from the State.