Commerce department mulls strategy to help industry leverage FTAs better
- IBEF
- January 29, 2024
The Department of Commerce is initiating an 'export advisory panel' to guide India's utilization of free-trade agreements (FTAs) more effectively. The panel, composed of senior industry officials, aims to enhance awareness and leverage FTAs to benefit exporters. Additionally, plans are underway to establish a digital infrastructure addressing FTA-specific challenges and providing easy access to FTA benefits. Despite India's extensive FTA network, low utilization rates persist, prompting the need for streamlined processes and increased awareness among exporters. The government's revamped foreign trade strategy includes negotiating new FTAs and improving utilization through digital platforms and advisory support.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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