Commerce and Industry Minister Piyush Goyal on Wednesday told exporters to intensify efforts to penetrate newer markets, intensify its efforts to penetrate new markets, upgrade quality and become more competitive to take maximum advantage of trade agreements. 

In a meeting with 35 Export Promotion Councils (EPCs) and key industry associations, the minister also said that the FTAs with developed countries will help India’s farmers, workers, professionals, artisans and MSMEs take advantage of the global market with preferential access. “With these trade agreements, India’s traditional medicines and yoga will also get global opportunities, while the interest of India’s agriculture and dairy sectors have been protected,” he added.

This was the first meeting of Goyal with exporters and industry organisations after the FTAs with European Union and US have been finalised. Industry representatives particularly appreciated the elimination of the additional 25 % tariff on Indian imports to the United States which they say would restore competitive market access for Indian exports. 

Industry noted that the United States is among India’s largest export destinations and that the tariff relief provides significant stability and renewed competitiveness to Indian exporters.

Associations representing sectors earlier impacted by the US tariff measures — including gems and jewellery, textiles and apparel, carpets, leather and footwear, marine products, handicrafts, engineering goods and chemicals — highlighted that the tariff rollback has restored business confidence and safeguarded employment in labour-intensive sectors.

Key participating bodies in the meeting included the Federation of Indian Export Organisations (FIEO); Gem & Jewellery Export Promotion Council (GJEPC); Apparel Export Promotion Council (AEPC); Council for Leather Exports (CLE); Engineering Export Promotion Council of India (EEPC India).

Apex industry chambers including the Federation of Indian Chambers of Commerce & Industry (FICCI), Associated Chambers of Commerce and Industry of India (ASSOCHAM), National Association of Software and Service Companies (NASSCOM) and PHD Chamber of Commerce and Industry (PHDCCI), along participated.