Commerce and Industry Minister Piyush Goyal today inaugurated the 40th edition of AAHAR International Food and Hospitality Fair in New Delhi. The fair is jointly organized by the Ministry of Food Processing Industries (MoFPI) and India Trade Promotion Organisation (ITPO) from the 10th to the 14th of this month.
Talking to media, the Minister expressed confidence that exhibitions like these will greatly benefit India in taking full advantage of the avenues opened by FTAs. The Minister highlighted that India today is the 7th largest exporter in the world. He added that in agricultural and marine products today, country’s farmers and fishermen export products worth approximately five lakh crore rupees. Mr Goyal underlined that this is the first time that Italy has been made the country partner in the fair.
Speaking at the inauguration ceremony, the Minister highlighted that apart from B2B engagements, the exhibition will also be open to public on the 13th of this month in the evening till the next day. He noted that today marks two years of the EFTA agreement with Switzerland, Norway, Liechtenstein and Iceland. Mr Goyal also expressed confidence that the global trade agreements will open new opportunities for country’s farmers, fishermen and MSMEs. The Minister highlighted that the nine Free Trade Agreements (FTAs) concluded by India over the past three and a half years have opened access to 38 developed and prosperous countries, providing vast market opportunities for Indian exporters.
Mr Goyal said that India today has preferential market access covering nearly two-thirds of global trade, which strengthens India’s position as an attractive investment destination and enables Indian businesses to integrate into global value chains. He further stated that key agricultural commodities such as rice, wheat, maize, soy meal and several varieties of pulses have been protected in trade negotiations. The Minister pointed out that Europe represents a major market for agricultural and processed food imports, especially with new trade arrangements that provide near-zero or very low duties on many Indian products.
Further, Ambassador of Italy to India, Antonio Bartoli said that the fair is an opportunity to highlight how the new FTA will boost both trade and investment in the agro-food sector. Talking to media, Mr Bartoli said that having India lower the trade barriers can create opportunity for more and more companies to come, sell and invest in the country.
