Commerce Minister Suresh Prabhu reviewed proposed
agriculture export and new industrial policies and discussed strategies to
boost outward shipments with top officials of his ministry on august 20th.
The Commerce Minister said the government was
working on new initiatives to take India's exports to the next level.
Prime Minister Narendra Modi last week said a new
agriculture export policy will be unveiled soon to boost farm income as the
government is on track to achieve the target of doubling farmers' income by
"Held a meeting with the Commerce Secretary
and senior officials of the Director General of Foreign Trade. Discussed
various export promotion strategies and reviewed the upcoming Agri Export
policy and Industrial Policy. We are working on new initiatives to take India's
export to the next level,” Prabhu said in a tweet.
The Commerce Ministry in March came out with a
draft 'Agriculture Export Policy', aimed at doubling agricultural exports and
integrating Indian farmers and farm products to the global value chain.
The new industrial policy will replace the old
policy of 1991 which was prepared against the backdrop of balance of payment
crisis. The proposed industrial policy aims at promoting emerging sectors and
modernizing existing industries.
It will also look to reduce regulatory hurdles
and encourage adoption of frontier technologies such as robotics and artificial
The Department of Industrial Policy and Promotion
(DIPP) in August last year floated a draft industrial policy with an aim to
create jobs for the next two decades, promote foreign technology transfer and
attract USD 100 billion FDI annually.