NEW DELHI: India is working on a strategy to ‘revitalise’ India’s exports and is working with key exporting ministries to formulate sectoral, commodity and territory specific export strategy. Minister of mCommerce & Industry and Civil Aviation, Suresh Prabhu said on Friday, adding that Meetings with concerned ministries have already been held where different ministries and stakeholders have been consulted after which “a matrix of specific action points have been prepared sector-wise, commodity-wise and territory-wise”.
Prabhu further said that he was personally monitoring the progress and regular meetings were being held with sectoral ministries, export promotion councils and exporters. “Certain issues which were affecting growth of exports have been specifically taken up with Department of Revenue and Ministry of Environment,” he said.
India’s exports rose by 9.8%, in financial year 2017-18, which is the highest rate of growth in six years. “This positive growth in exports has taken place at a time when there is a lot of negative headwinds globally,” Prabhu said this while speaking at the Export Summit 2018 organised by Confederation of Indian Industry in New Delhi.
The commerce minister also said that the soon to be unveiled agri export policy will give a major boost to the agricultural sector and will pave the way to double farmers’ income.
India produces 600 MT of agricultural produce and has the capacity to export the excess production to the world.