‘Great export potential in India’s manufacturing & logistics sectors ‘

By implementing the Rupee currency in UAE trade, we aim to open vast trade opportunities while addressing the 5-6% costs incurred otherwise in currency conversion, impacting MSMEs significantly, said Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India.He added, India’s vibrant democracy has all the right ingredients for any country to capitalise off the global efforts to do trade with trusted partners and to further expand the synergies between industry and the government, at the event by CareEdge Ratings. Congratulating CareEdge for its 30 years of successful operations, the Union Minister said at the event, “We are thrilled to embark on an extraordinary journey of growth, fuelled by collaboration and international partnerships. Our recent trade agreements with Australia, and UAE and ongoing discussions on FTA with UK, EU, and Canada signify our commitment to empowering businesses, facilitating technology transfers, and fostering deeper geopolitical alliances.”
Under the theme of ‘Collaboration for Growth’ the celebration focused on India’s trade partnerships over the last few years and the overall contribution of the trade sector to India’s growth. In the last two decades, the Indian Economy has grown at an average of nearly 6.4%. During this period exports (goods & services) contributed significantly, almost doubling its share to GDP from 13.7% in FY04 to 23.5% in FY23.