Exporters for early conclusion of trade pact talks with US, EU

Time of India

16 hours ago

NEW DELHI: Exporters have urged the government for early conclusion of talks for the proposed trade agreements with the US and European Union, stating it would help boost the country's shipments. This was suggested by exporters during their meeting with commerce ministry officials. It was chaired by Commerce and Industry Minister
Piyush Goyal
.
"All the exporters talked about these trade agreements in the meeting particularly with the US and the EU. Everyone was inquiring about the progress of talks with the US" an industry official said.
The minister said talks are on for the first phase of bilateral trade agreement with the US.
The domestic industry and exporters have earlier expressed concerns that if the US will go ahead with its high tariffs on Indian goods after July 9, it will impact their margins.
They are also worried about high US duties on steel and aluminium products as it may hurt India's engineering
exports
to America, which is one of the largest market for them.
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In the meeting, the commerce minister asked the industry to share issues, if they are facing any, in increasing utilisation of
FTAs
so far signed and implemented by India.
India has implemented these agreements with countries, including Australia, the UAE, Japan, Korea, Asean, and Singapore.
Further the ministry said soon they will bring an SEZ (special economic zone) amendment bill in Parliament.
India has hardened its position on issues related to agriculture as negotiations with the US team in Washington have entered a crucial stage, an official said on Monday.
"The export community is keenly looking forward to conclusion and fast-tracking actual implementation of trade pacts with the US and the EU, and FTAs with the UK and Latin America to ensure market access, so critical for planning export led growth," another exporter said.
They also asked the ministry to fast-track announcement of the Export Promotion Mission (EPM), announced in the Union Budget 2025-26.
Nearly four months have passed, and there is yet no formal launch or implementation roadmap.
During the meeting, breakout sessions were also held with officials from the Department of Commerce, Department of Revenue, and Members of Trade.
The representatives of Export Promotion Councils and Industry Associations from various sectors such as textile, apparel, engineering, gems and jewellery, medical devices, services sector, Federation of Indian Export Organisations (FIEO), Ayush, leather, Assocham participated in the meeting.