Policy

Sector-specific plan to boost exports soon

Our Bureau New Delhi | Updated on January 08, 2018

export

Centre will commit to raise exports to ‘a certain level’, says Suresh Prabhu



The Commerce Ministry will prepare a sector-specific action plan in two-three weeks to boost export growth to a higher trajectory based on inputs received from various export promotion councils (EPC) and industry bodies.

“Each of the EPCs has been asked to prepare a concrete strategic action plan on what can be done in the forseeable future and middle term so that exports can be increased with a specific focus on specific product grades,” Commerce Minister Suresh Prabhu said at a press conference on Friday.

“The Commerce Ministry will sit together with the DIPP, DGFT and FIEO to act on whatever suggestion we have received and prepare a plan," he added. This will be done in two-three weeks time, Prabhu said, after a brainstorming session with exporters.

Based on the action plan, the Commerce Ministry will come up with a target of increasing exports to a specific level. “We will also commit that with all these inputs, exports are going to rise to a certain level,” the Minister said.

The target of increasing exports to $900 billion by 2020 is already out of the picture as external developments, including unfavourable movement of commodity prices and foreign exchange fluctuation, have hit performance, Commerce Secretary Rita Teaotia explained.

With exports lower than $300 billion in the last two years, a target of $500 billion, too, would need substantial efforts from the government.

The Finance Ministry will play a crucial role in the entire exercise. “Most of the issues also deal with the Ministry of Finance. We will take it up with them,” the Minister said. The meeting was jointly organised by the Commerce Ministry and the Federation of Indian Export Organisations.

Textiles Minister Smriti Irani, Minister of State for Commerce & Industry, CR Chaudhary, officials from the Directorate General of Foreign Trade (DGFT), and the Secretaries of Commerce and the Department of Industrial Policy & Promotion (DIPP) also attended the meeting.

Representatives from CII, FICCI, ASSOCHAM, MPEDA, Spices Board, Carpet EPC, Council of Leather Exports, Engineering EPC, EPC for EOUs & SEZs, Indian Oilseeds and Produce EPC, CHEMEXCIL, CAPEXCIL, Tobacco Board, Shellac EPC, EPC for Handicraft, Plastic EPC, Cotton and Textiles EPC, Silk EPC, Pharmaceutical EPC, Electronics and Computer Software EPC, Project EPC, Sports Goods EPC, Powerloom Development EPC, Federation of Indian Micro and Small & Medium Enterprises, Panipat Exporters Association, Tirupur Exporters Association and many other leading exporters participated in the discussions and raised sector-specific issues.

Published on October 06, 2017

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