Department of Commerce conducts outreach Programme on India-UAE CEPA and India-Australia ECTA in Bengaluru
Programme sees wide participation from across industry segments and sectors
Exports play a crucial role in realizing Atmanirbhar Bharat, said Shri Prahlad Joshi, Union Minister of Parliamentary Affairs, Coal and Mines, who addressed the outreach Programme on India-UAE CEPA and India-Australia ECTA organized by Department of Commerce in Bengaluru today.
Shri Joshi, who was the Chief Guest at the event 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, Government of India, in coordination with the Industries and Commerce Department, Government of the State of Karnataka, 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 sectors.
As part of the event, two panel discussions were also conducted with the participation from Industry representatives. The 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.
Shri Dr 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. He also 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.
Participants at the event exhibited enthusiasm at the prospects of deriving immense benefits from the Trade Agreements and committed to forging newer trade relationships with importers in these partner countries with an objective to increase their market shares across sectors and Industries. For more details of the Agreements, please visit the following official websites.
Source : PIB