Exporters urged to study FTAs and benefit from the opportunities

A three day international engineering sourcing show took off in Coimbatore on March 4 and Joint Secretary Commerce Vipul Bansal urged the exporters to leverage on the opportunities that come from FTAs. Tamil Nadu is the host State for the event

Exporters should study the free trade agreement draft documents that the government is working on so that they can leverage the opportunities that will come from the agreements, said Vipul Bansal, joint secretary, Department of Commerce, in Coimbatore on Monday.

Speaking at the inaugural of a three-day International Engineering Sourcing Show, organised by the EEPC India, he said that in the last one year, the Union government signed two free trade agreements and is working on four more. It shares the drafts of the agreements with the export promotion councils. All the exporters should go through these documents to know the details and leverage on the opportunities that will emerge from these agreements.

Events such as the Engineering Sourcing Show should scale up to become global platforms, where a participant from any country can showcase products, he said.

According to Archana Patnaik, secretary of the Department of MSMEs, Government of Tamil Nadu, the State has 35 % share in the production of automobile and auto components in the country. This shows the vibrancy of the entrepreneurship in the State in this sector. The State government has constituted a task force to promote the electric vehicle sector and supports organisations such as the Coimbatore District Small Industries Association (CODISSIA) with its export promotion fund.

It has also supported 70 MSMEs set up stalls at the Engineering Sourcing Show through Fame TN, she said.

Arun Kumar Garodia, chairman of EEPC India, said the sourcing show has 300 exhibitors showcasing products in five major categories, 150 new products, and 400 buyers from different countries. The theme of the event was smart sustainable engineering.

The EEPC India Quality Awards were distributed and EEPC India Green Awards were launched. A publication on sustainable future and smart engineering was released at the event.