Goyal, India’s minister of commerce and industry, consumer affairs, food and public distribution, and textiles, commented that the pandemic highlighted the country’s dependence on supply chains and the risk factors associated with India’s trading system as well as manufacturing and technology gaps, according to a press release by India’s ministry of commerce and industry.
Assuring the industry of all support, Goyal insisted that the Free Trade Agreements (FTA) between India and the UAE and Australia were free from issues as a result of extensive consultations with stakeholders.
“We have taken proactive measures to control inflation and have calibrated our export duties and import policies accordingly. The government has stopped exports of items which were needed to ensure domestic supply. You can see the result in latest inflation numbers, and I am confident that we will soon fall into the comfortable band,” he concluded.
Fibre2Fashion News Desk (NB)