‘50% of export target reached by September end’

Hyderabad: The Union government set a target of $400 billion exports for 2021-22 and nearly 50 per cent of it has been achieved by September end, said Dr Srikar K Reddy, Commerce Joint Secretary.

The government is taking measures to increase exports to 1$ trillion by 2027-28 and is working to provide more market access to Indian companies by facilitating free trade agreements (FTAs). It is fast tracking FTAs with UAE, Israel, European Union, UK, Australia and Canada.

The government recently notified the Remission of Duties and Taxes on Exported Products scheme to boost the exports and competitiveness in the local markets. It also launched One District One Product export hub initiative for every district, he said in an event organised by the Federation of Telangana Chambers of Commerce and Industry (FTCCI).

G Seetharam Reddy, Foreign Trade Additional Director General underlined the importance of understanding the rules and regulations of exports and imports to capitalise the opportunities available in international trade.

FTCCI president K Bhasker Reddy said the industry body has been taking up skill development programmes to make manufacturing sector both cost and quality competitive.

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