FTAs must drive exports, not just imports: Commerce Minister Piyush Goyal
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Commerce Minister Piyush Goyal emphasized the need for Indian industries to leverage free trade agreements (FTAs) to boost exports, warning against a rise in imports. With the FTA with Oman set to launch on June 1, Goyal urged exporters to engage proactively. He noted that imports have outpaced exports in past agreements, particularly with the UAE. Goyal called for increased exports in value-added products and acknowledged the necessity of certain imports for economic growth, urging industries to adapt to global challenges as opportunities.
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