Indian Minister for Commerce and Industry and railways Piyush Goyal recently met representatives from 37 Export Promotion Councils (EPCs), the Federation of Indian Export Organisation (FIEO) and three Commodity Boards under the Department of Commerce. Goyal reviewed and sought inputs from EPCs for the foreign trade policy and on steps needed to boost exports.
Pre-budget inputs from EPCs were also received. The EPCs also offered their views on India’s free trade agreements (FTAs) and preferential trade agreements (PTAs) with other countries, according to an official report. Goyal suggested that rationalisation of EPCs must be taken up to avoid duplication of work and big exporters may continue to be part of FIEO and smaller councils may merge with bigger EPCs that deal with products of similar nature.
He urged the EPCs to study the non-tariff barriers (NTB) being faced by them while exporting to other countries so that a study may be undertaken to look at these NTBs and take up this issue by laterally with the countries especially with whom India has FTAs/ PTAs. He asked exporters to make use of the Niryat Rin Vikas Yojana scheme that will soon be approved by the Cabinet so that they can access easy lending and enhanced loan availability.