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Commerce secretary expects exports to touch new height

Commerce Secretary Anup Wadhawan said the country’s export is expected to touch new height during the current financial year yielding 12 per cent growth in dollar terms and 19 per cent dollar terms. The government has set an export target of 350 billion US dollars for the current financial year ending March 2019.

The Commerce Secretary was here for an inter-active session with the exporters in southern region organized by the southern region of Federation of Indian Exporters Organization in the city on October 22. During the three hour long session with the top official of the government, the exporters expressed concern over non availability of credit from the banks and sought enhancement of export promotion measures.

The government he said would consider those issues he said while talking to newspersons at the end of his session with exporters.

Praising the export eco system in southern India and especially in Tamil Nadu, the export figures of the state was encouraging. The state has been growing at double digit rate for over ten years and exports stood at ten per cent. The export basket of the state is becoming sophisticated over a period of time and they include agricultural and marine products, automotive parts and automobiles and IT services besides the traditional stuff from Textiles, leather and engineering products.

During his address at the exporters meeting Dr A Sakithivel Regional chairman of the FIEO said south east Asian countries like Bangladesh, Vietnam, Indonesia, Malaysia and Sri Lanka have reported faster export  growth than India. The government’s immediate focus should be why we are unable to keep pace with these countries in the export market and take quick remedial measures. 

As the country is dragging its feet in signing a Free trade agreement with European union, our neighboring competitor like Bangladesh, Pakistan Sri Lanka and Vietnam enjoy a hefty duty advantage to the tune of 9.60 per cent in importing countries whereas Indian goods become non competitive. As competition in the international market is becoming severe, we lose market continuously, Dr Sakthivel said.

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