Suresh Prabhu reviews strategy for revitalizing India’s exports
In a meeting of Ministry of Commerce & Industry and Civil Aviationn, Suresh Prabhu said that trade events are being organised in African, Central and South American countries to find new markets for exports and to introduce new products. Because of these measures, exports are continuously registering growth.
Prabhu took stock of the latest export trends and expressed confidence over robust growth of total exports by 12.9% in 2017-18.
The minister also reviewed the development of USD 100 Billion Additional Export Strategy focussing on Champion & Promising products and market retention. This is envisaged as a multipronged sector wise strategy focussing on traditional and new products & markets.
"Commodity Specific Strategy includes products like Gems &Jewellery, Leather, Textile& Apparel, Pharmaceuticals, Electronics, Engineering Sector, Chemical & Petrochemicals, Marine Products and Agriculture & Allied Products," the ministry said.
The ministry also stated that the Territory Specific Strategy include regions like NAFTA, Europe, North East Asia, ASEAN, South Asia, Latin America, Africa& WANA, CIS, Australia and New Zealand.
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A statement released by the ministry stated that that commodity-specific strategy includes products like gems and jewellery, leather, textile, pharmaceuticals, electronics, engineering, chemical, marine products and agriculture goods. India's exports grew by 9.78 per cent to USD 302.84 billion in 2017-18.