Stakeholders’ outreach event on India-UAE, India-Australia trade agreements held in Hyderabad

Hyderabad: An event to create awareness among the industry and exporters from Telangana, particularly the MSME sector, about the potential benefits of India’s trade agreements with the UAE and Australia was held in Hyderabad on Saturday.
The Centre’s Department of Commerce, in coordination with the Telangana government, held the stakeholders’ outreach programme on the recently concluded India-UAE Comprehensive Economic Partnership Agreement and the India-Australia Economic Cooperation and Trade Agreement, according to an official release.
Union Tourism and Culture Minister G Kishan Reddy, who was the chief guest at the event, highlighted various initiatives and reforms being undertaken by the Union government to further improve the ease of doing business, it stated.
The significant milestones achieved in the form of the record-high annual exports of goods and services in the current year of around USD 669.6 billion and the successful vaccination drive showcase India in a positive light, he said.
Observing that the overall merchandise export of Telangana was about three per cent of that of the country, Reddy underlined the need to maximise the state’s potential by improving its logistics facilities.
Union Minister of State for Commerce and Industry Anupriya Patel urged the stakeholders to unlock the access to the neo markets that the recent “game-changer” trade agreements with the UAE and Australia have brought about.
Lauding Telangana for creating district-specific export promotion councils, she said the state has a huge potential to emerge as a top exporting hub considering its strength in sectors such as pharmaceuticals, leather, gems and jewellery, and electronic goods.
Jayesh Ranjan, the Principal Secretary of the Telangana Government of Telangana, shared a statistical snapshot of the state, including the macroeconomic indicators, external sector performance, and a summary compilation of top goods and services exported from the state, the release said.
Earlier, Amit Yadav, additional secretary in the Department of Commerce, provided an overview of the two recently concluded landmark trade agreements and highlighted the benefits that can accrue to the exporters in Telangana.

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