Commerce Ministry conducts programme on benefit of trade pacts.

NEW DELHI: As industry concerns mount over the implications of free trade agreements with other nations, the Commerce Ministry has started conducting "outreach programmes" to inform stakeholders about the benefits of such pacts.

"The commerce department has conducted outreach programmes on FTAs across the country," said an official.

"During these programmes, information was disseminated about the pacts with a view to informing all the stakeholders about the pacts," he added.

Increasing awareness on the issue will help industry as well as exporters benefit more from these pacts, he added.

The ministry has also prepared "frequently asked questions" (FAQs) for the stakeholders. For the second stage, the ministry is preparing sector specific FAQs.

Exporters body FIEO has said that shipments to several countries with which India has signed FTAs have shown a decline.

President of the Federation of Indian Export Organisations Rafeeque Ahmed has said that lack of awareness among the exporters, mostly from the small scale sector, is one of the reasons for non-accrual of the benefits from the FTAs.

Commerce Secretary Rajeev Kher had said earlier that FTAs are not "evil" and businesses should take advantage of these pacts.

"A picture has been painted as if FTAs are nothing but evil. But we have to recognise that this is not the fact. The important thing is that we have to see how we are utilising these FTAs," Kher had said.

He however had added "we are aware that some FTAs have caused a certain amount of problem like duty inversion. This needs to be addressed and hopefully it will be addressed".

Source : economictimes.indiatimes.com