Why it will take more than just signing FTAs to boost India's exports
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Exporters across industrial hubs are preparing to use India’s new free trade pacts to boost sales.
- ✓Many business owners are busy getting certifications to meet foreign quality standards.
- ✓Sanjay Notani said, "The market may be open on paper, but the ability to use that access is uneven." Success requires compliance.
Story at a Glance
- Category
- Indian Markets
- Reported By
- mint
- Reading Speed
- 12 Minute(s)
- Market Focus
- India Economy
Summary
Exporters across industrial hubs are gearing up to tap the opportunities arising from India's many free trade pacts. In doing so, they hope to rewrite the script. Earlier FTAs did not do much for exporters, and only served to widen the trade deficit with India's partners.
These days Ashish Gujarati, chairman and managing director of Surat-headquartered Aditya Textile Solutions, is busy racking up manufacturing certifications, to prove, among other things, that his products are devoid of harmful substances and chemicals. He is proud to have already secured the Global Recycled Standard (GRS) certificate, which proves that his yarn is made of recycled plastic or yarn. "Many top European brands have set internal targets to sell more recycled fabric so this could be a big market for us. It is not rocket science but getting all these certificates will take up to a year," he said.
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