Telangana to guide industries to utilise free trade agreements
IT and Industries Minister D Sridhar Babu said the state aims to connect local businesses with global supply chains.
Telangana government will assist industries, especially micro, small and medium enterprises (MSMEs) and exporters, to benefit from free trade agreements (FTAs) India has signed with different nations, according to The Hindu.
Addressing a mega FTA outreach programme organised by the Union Commerce Ministry and the state government at T-Hub in Hyderabad on Monday, IT and Industries Minister D Sridhar Babu said the goal is to ensure products manufactured in Telangana reach all countries with which India has FTA partnerships.
The Minister stated that exports are vital for meeting India's long-term economic goals. He also requested the Centre to provide institutional support and guidance to state governments and industries to help them use the benefits available under these agreements.
The state government plans to link local industries to global supply chains and transform every district into an economic growth centre. This includes identifying products unique to each district to boost their manufacturing, processing and export.
Minister Sridhar Babu said these efforts would strengthen local industrial ecosystems and generate new employment and growth opportunities across districts. He also noted the importance of identifying surplus agricultural produce after domestic needs are met to send it to export markets rather than letting it perish.