+
India Secures Preferential Access To Two Thirds Of Global Trade
ECONOMY & POLICY

India Secures Preferential Access To Two Thirds Of Global Trade

Union minister Piyush Goyal said India now enjoys preferential access to nearly two thirds of global trade after concluding high quality free trade agreements (FTAs) under Prime Minister Narendra Modi. Addressing the fifth CII National Exports Competitiveness Summit in Chennai, he said the nine FTAs were with developed economies that complement India’s growth. The agenda was framed as reform, perform and transform to integrate India with the global economy.\n\nThe minister outlined diplomatic momentum, noting the launch of negotiations with the six-nation Gulf Cooperation Council (GCC), advanced talks with Israel and Chile and preparations to begin discussions with Canada after an expected visit by the Canadian prime minister. The FTAs were presented as a strategy to de-risk trade and diversify partnerships. He noted that merchandise trade with Australia and the United Arab Emirates has doubled since FTAs were signed.\n\nAn Export Promotion Mission was launched to support micro, small and medium enterprises by improving access to credit, lowering operational costs and aiding compliance with demanding markets such as the European Union. The initiative aims to remove structural bottlenecks and increase small firms’ participation in global value chains. The minister urged industry to prioritise quality and to adopt the prime minister’s Zero Defect, Zero Effect approach.\n\nThe minister set out a four point roadmap to transform exports that emphasised grassroots FTA outreach, quality focus, value addition and building local export ecosystems through industry partnership. He called for dissemination of FTA benefits to clusters, districts and factory floors and for firms to mentor smaller enterprises to create district level export ecosystems. Progress up the value chain was urged to boost jobs, margins and competitiveness.\n\nThe release described India’s export story as one of confidence and resilience belonging to 1,400 million (1,400 mn) Indians and 100–110 million (100–110 mn) MSMEs across regions and professions. The government committed to provide clear pathways and support to enable high quality and sustained productivity required to establish India as a leading exporting nation.

Union minister Piyush Goyal said India now enjoys preferential access to nearly two thirds of global trade after concluding high quality free trade agreements (FTAs) under Prime Minister Narendra Modi. Addressing the fifth CII National Exports Competitiveness Summit in Chennai, he said the nine FTAs were with developed economies that complement India’s growth. The agenda was framed as reform, perform and transform to integrate India with the global economy.\n\nThe minister outlined diplomatic momentum, noting the launch of negotiations with the six-nation Gulf Cooperation Council (GCC), advanced talks with Israel and Chile and preparations to begin discussions with Canada after an expected visit by the Canadian prime minister. The FTAs were presented as a strategy to de-risk trade and diversify partnerships. He noted that merchandise trade with Australia and the United Arab Emirates has doubled since FTAs were signed.\n\nAn Export Promotion Mission was launched to support micro, small and medium enterprises by improving access to credit, lowering operational costs and aiding compliance with demanding markets such as the European Union. The initiative aims to remove structural bottlenecks and increase small firms’ participation in global value chains. The minister urged industry to prioritise quality and to adopt the prime minister’s Zero Defect, Zero Effect approach.\n\nThe minister set out a four point roadmap to transform exports that emphasised grassroots FTA outreach, quality focus, value addition and building local export ecosystems through industry partnership. He called for dissemination of FTA benefits to clusters, districts and factory floors and for firms to mentor smaller enterprises to create district level export ecosystems. Progress up the value chain was urged to boost jobs, margins and competitiveness.\n\nThe release described India’s export story as one of confidence and resilience belonging to 1,400 million (1,400 mn) Indians and 100–110 million (100–110 mn) MSMEs across regions and professions. The government committed to provide clear pathways and support to enable high quality and sustained productivity required to establish India as a leading exporting nation.

Next Story
Infrastructure Urban

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Next Story
Infrastructure Urban

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Next Story
Infrastructure Urban

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement