Published: Fri, 10/28/22 – Updated at 10:47pm
(Source: Twitter/Piyush Goyal Office). Participating in an interaction “Increasing Global Opportunities for Indian Manufacturers” organised by industry body FTCCI, he said the trade community should focus on quality to tap international opportunities.
Hyderabad: Turmeric, spices, chilli and cotton grown in Telangana, as well as some varieties of rice, were praised by Union Minister of Commerce and Industry Piyush Goyal, who also mentioned the state’s unique Cheriyal paintings.
Participating in an interaction on “Increasing Global Opportunities for Indian Manufacturers” organised by industry body Telangana Chamber of Commerce and Industry (FTCCI) on Friday, he said the trade community should focus on quality to seize international opportunities.
Last year’s exports were worth $675 billion, up 17 percent in the year to September. Exports could reach $750 billion this year, he said.
Although he called Hyderabad “the land of the Covid-19 vaccine,” Goyal said Hyderabad continued to suffer from what he called a Mughal culture and colonial hangover. He chose to avoid mentioning Charminar, instead referring to Hyderabad as “the place of the temple of Bhagyalakshmi”. He also uses the trade platform to market “twin-engine sarkar” for Telangana.
Goyal asked cotton industry stakeholders to discuss a strategy to ensure cotton traceability and higher value for cotton products. On the concerns raised by rice growers over the recognition of non-basmati varieties, he said the centre had imposed export restrictions to ensure domestic food security.
Under the public distribution system, about 9 million tons of grain need to be distributed every month. He said food production could be affected due to premature rains in Bihar and Uttar Pradesh.
Anil Agarwal, president of the FTCCI, pointed out the challenges facing micro, small and medium-sized businesses. The ease of ranking should be based on results, not just the implementation of reforms. Trade has seen supply chain disruptions. The government’s focus should be on increasing the contribution of manufacturing to GDP.
The industry body has also proposed the rationalization of anti-dumping duties, levies on non-Basmati rice exports, and certain pharmaceutical sector GST, which would make it mandatory for companies to obtain production-related incentives to source from small businesses and others.
Khyati Amol Naravane, CEO of FTCCI, Sujata, Deputy CEO, Srinivas Garimella, Chairman of Industrial Development Committee, etc. delivered speeches.
