Bengaluru: Exports play an important position in realising Atmanirbhar Bharat, mentioned Union Minister of Parliamentary Affairs, Coal and Mines Prahlad Joshi on Thursday.
The Union Minister was addressing the outreach Programme on the India-United Arab Emirates Complete Financial Partnership Settlement (CEPA) and the India-Australia Financial Cooperation and Commerce Settlement (ECTA) organized by the Division of Commerce in Bengaluru.
Joshi, who was the Chief Visitor on the occasion highlighted the assorted initiatives and reforms being undertaken by the Authorities of India to additional enhance the convenience of doing enterprise, the numerous milestones achieved within the type of the record-high annual exports of products and companies within the present 12 months of round USD 674 billion, and at last delineated the immense benefits of the state of Karnataka.
The Division of Commerce, Authorities of India, in coordination with the Industries and Commerce Division, Authorities of the State of Karnataka, the Companies Export Promotion Council (SEPC), and different Apex Trade Our bodies, Export Promotion Councils, Native Chambers of Commerce and Trade, organized a Stakeholders’ Outreach Programme on India-UAE CEPA and India-Australia ECTA in Bengaluru on Thursday.
Based on the Ministry of Commerce and Trade, State outreach programmes are a part of a collection of concerted and coordinated efforts being made by the Division of Commerce, Authorities of India, to sensitize and create consciousness amongst exporters throughout the nation on the conducive platform and the beneficial commerce ecosystem that’s being created with the conclusion of those landmark commerce agreements with companion international locations exhibiting vital commerce complementarities with India.
This specific outreach occasion was solely meant for native trade and exporters, significantly from the MSME sector, within the state of Karnataka. Given the significance of the occasion and the potential for immense advantages for the trade members, the occasion witnessed the participation of over 200 businessmen from the State of Karnataka, slicing throughout trade segments and sectors, mentioned the ministry.
Addressing the event, Abhay Sinha, Director Common, Companies Export Promotion Council (SEPC) supplied an outline of the 2 just lately concluded landmark commerce agreements, viz., India-UAE Complete Financial Partnership Settlement (CEPA) and India-Australia Financial Cooperation and Commerce Settlement (ECTA) and succinctly highlighted the advantages that may accrue to the exporters from the State of Karnataka.
Darpan Jain, Joint Secretary, Division of Commerce, delivered a complete presentation, which elaborated on the assorted elements of the commerce agreements and defined intimately the concessions on items and companies exchanged by India with the UAE and Australia, measures integrated for facilitation of bilateral commerce, safeguards which have been positioned to guard the Trade, and projected features in exports, GDP, and employment throughout varied sectors, significantly the labour-intensive ones.
E.V. Ramana Reddy, Extra Chief Secretary, Authorities of Karnataka, supplied an outline of the Industrial profile of Karnataka and likewise spoke concerning the enormous latent potential of the State, which is already a powerhouse of IT/ITES, rating first within the nation in IT/ITES exports.
He additionally expressed optimism on the prospect of the State deriving advantages from these Commerce Agreements on the again of its personal immense benefits. He shared a statistical snapshot of Karnataka, together with an outline of the macroeconomic indicators, exterior sector efficiency, and a abstract compilation of high items and companies exported from the state.