Commerce Ministry Seeks Inputs From other Ministries to Boost Exports

The Commerce Ministry has roped in other key Ministries and Departments such as Agriculture, Textiles, Electronics & IT, Pharmaceuticals, Chemicals and Petrochemicals, Food Processing, Petroleum and Animal Husbandry and Dairying to help it draw up and implement a strategy for boosting exports from various sectors.

In the first Inter-Ministerial meeting on ‘Sectoral Export Promotion Strategy’, held recently, Commerce Minister Mr. Suresh Prabhu asked all the attending officials to prepare an action plan on boosting exports of products handled by their respective Ministries and send it to the Department of Commerce in two weeks’ time. “The Department of Commerce will take assistance from the Ministry of External Affairs to implement the action plans through our commercial missions abroad,” an official release informed.

Suresh Prabhu

Mr. Prabhu pointed out that the Union Cabinet had approved Rs. 5,000 crores to promote export of services in champion sectors and the Department of Commerce (DoC) is organising the next Global Exhibition on export of Services at Mumbai on May 15, 2018.

Commerce Secretary Ms. Rita Teaotia said that while there has been a 10% growth in merchandise exports in the current year, India’s share in global trade is static at 1.7% in merchandise exports and 3.4% in services exports. “We need to look at new markets. While we have done well in US and Europe there has not been adequate focus on emerging markets in Asia. We need to focus more on exports to China, Latin America and Africa,” she said.