Commerce minister consults industry amidst FTA negotiations with UK, EU and Canada
16 May 2022
Union minister for commerce and industry consumer affairs, food and public distribution and textiles Piyush Goyal held a day-long stakeholder consultation with various sectors of the industry in Mumbai on Saturday, on India’s ongoing negotiations for Free Trade Agreements with Canada, the United Kingdom and the European Union.
The minister held separate meetings with representatives of automobiles, gem and jewellery, textiles, steel, copper and aluminium sectors. The hybrid interaction saw industry leaders and associations attending both in person and online.
The commerce minister apprised the industry as to how the agreements that are being negotiated will elevate the overall economic and commercial relations with respective partner countries, which in turn will not only benefit bilateral trade but also create new jobs and provide wider social and economic opportunities. Goyal stressed on the potential benefits - both direct and complementary spill-over economic benefits, including increased investment, job creation and employment opportunities.
While appreciating the accommodative spirit of the Industry, the minister urged industry representatives to continue to support trade negotiations in the same spirit in the wider interests of the nation, contributing to the holistic development of multi-sectoral economic value chains in the country.
Industry representatives thanked the minister for entering into FTAs with UAE, Australia and other nations, that too at such a fast pace fulfilling a long-lasting dream for many of them. Further, all the stakeholders expressed gratitude to the minister for taking into consideration concerns of Indian industry and provided constructive inputs on this matter with a view to ensure overall balance between market access and domestic sensitivities.
Trade bodies/Associations/EPCs that participated in the consultations included:
Automobiles: Society of Indian Automobile Manufacturers (SIAM), Automotive Components Manufacturers Association of India (ACMA), Society of Manufacturers of Electric Vehicles (SMEV), EEPC India, CII;
Gems and Jewellery: GJEPC, All India Gem & Jewellery Domestic Council;
Textiles: Apparel Export Promotion Council, Cotton Textiles Export Promotion Council, Indian Silk Export Promotion Council, Synthetic & Rayon Textiles Export Promotion Council, Wool Industry Export Promotion Council, ICC, FICCI, ASSOCHAM, CII, Cotton Corporation of India (CCI), Handloom Export Promotion Council, Confederation of Indian Textile Industry, Silk Association of India, The Clothing Manufacturers Association of India, Association of Man-Made Fibre Industry of India, The South India Hosiery Manufacturers Association, Apparel Exporters and Manufacturers Association, Indian Polyurethane Association, India Woollen Mills Federation, PDEXCIL, Wool and Woollen Export Promotion Council;
Steel: Indian Steel Association (ISA), Indian Stainless Steel Development Association (ISSDA), Alloy Steel Producers Association(ASPA), Indian Ferro Alloy Producers’ Association(IFAPA), EEPC India, FICCI, CII;
Copper: Indian Primary Copper Producers Association (IPCPA), EEPC India, Indian Electrical & Electronics Manufacturers Association (IEEMA), Indian Non-Ferrous Metals Manufacturers Association (INFMMA), Bombay Metal Exchange Ltd.
Aluminium: Aluminium Association of India (AAI), Aluminium Secondary Manufacturers Association (ASMA), Aluminium Casters' Association (ALUCAST), Indian Electrical & Electronics Manufacturers Association (IEEMA), EEPC India, Bombay Metal Exchange Ltd, FICCI, CII.