In a meeting with the different exports stakeholders
Commerce and Industry Minister Suresh Prabhu discussed a strategy that will see India’s
exports double by 2025.
Describing the challenges to be met
with successfully like uncertainty of global trade, the minister said exports
create jobs, bring in foreign exchange and validate India’s international
Minister of State, C R Chaudhary will be the chairperson
of this mission and will regularly review the work of different export
promotion councils and divisions of the Ministry of Commerce.
The Minister briefly pointed out the initiatives
the government has taken towards facilitating transparency and ease of doing
business. He said a special strategy is being prepared for services sector to
achieve broad-based growth instead of the existing pre-dominance of IT-ITeS.
Commodity and territory specific strategy is also
being prepared for items like gems and jewellery, leather, textile &
apparel, etc., and the territory specific stategy will cover North American Free Trade Agreement
(NAFTA), Europe, North East Asia, ASEAN, South Asia, Latin America, Africa and
WANA, Australia, New Zealand, and CIS.
The Commerce Minister said that apart from traditional
markets India must also look at boosting trade with smaller countries and
explore new territories like Africa which has 54 countries but accounts for
only 8 % of exports from India.
exhorted exporters to not miss the opportunity presented by China’s consumer
market and make the most of the world’s mega import expo being held in China in