The Department of Commerce will soon open10 offices in
Indian missions abroad for accelerating export promotion activities. This was
informed by Commerce & Industry Minister, Suresh Prabhu, during review of
the sectoral export promotion plans prepared by Ministries and Departments in
New Delhi on 15 June 2018 says a release. He said a conference of Heads of
Indian missions has been scheduled in June end in which trade promotion
measures will be discussed.
The Minister stressed on branding of Indian products
and export credit as important focus areas for export promotion. He also said
that efforts should be made for getting priority sector lending status for
export credit and directed the logistics division of the Ministry to work upon
measures like bulk cargo transportation to reduce freight costs.
The Minister suggested that each Ministry and
Department should set targets for increasing exports of their product and
product groups in 2018-2019.Commerce Minister emphasised that exports are a
national priority and an integrated approach is required to promote exports as
a joint mission. He directed that this forum should be institutionalized and
inter-ministerial meetings be held every quarter to resolve difficulties and
assess the progress across sectors.
Commerce Secretary, Ms. Rita Teaotia said that
although exports have grown in the past year, a quantum jump is required. She
also emphasized that branding is a major issue cutting across all sectors and
Brand Equity Foundation is formulating a proposal to support line Ministries
for branding export products.
Director General Foreign Trade, Alok Chaturvedi
informed the participants that Department of Commerce is preparing a ‘100
Billion Additional Export Strategy’ which will be released shortly.
Merchandise Exports in 2017-18 grew by 9.8% YoY while
Services Exports were up by 17.8% YoY. Total Exports were up by 12.9% in
2017-18 as compared to 2016-17.
The Minister of State for Commerce & Industry, C R
Chaudhary was also present at the meeting. The meeting was attended by
Secretaries to Government of India from DIPP, MSME, Textiles, Chemicals and
Petrochemicals besides senior officers from other administrative ministries and
departments including Agriculture, Electronics and IT, Department of Heavy
Industry and Defence Production.