In a first of its kind move, the commerce ministry has decided to organise workshops and interactive sessions to sensitise the industry about the threats and advantages of bilateral trade treaties.
Commerce secretary Rahul Khullar told FE that the move formed a part of the government’s attempt to formalise industry interactions following the finalisation of major trade agreements. ?I had a meeting last week (with ministry officials) to start the discussions with industry to create awareness on FTAs,? Khullar said. He added that the process would start once India finalises the FTAs with Japan and Malaysia.
?I would be addressing an industry chamber later this month. It would be followed by officials from commerce ministry travelling around the country,? he said.
The move comes close on the heels of rising fears among industry bodies that unhindered movement of goods into the country could adversely impact the domestic sector. The move was initiated in Singapore to create a synergy between policy making and industry. FTAs with Japan and Malaysia are slated to be completed in a month.
Trade analyst with CII Pritam Banerjee said the attempts to create awareness on trade agreements is a timely step as often several small sized companies are left unawares. The move would also enhance the export competitiveness of the SMEs, he said.
?Though the larger companies with global operations are usually in the loop, it is the smaller ones that are usually not aware,? he said.