Indian Economy News

Government working on multi-pronged strategy to push up exports: Commerce Secretary Rita Teaotia

  • IBEF
  • August 21, 2015

New Delhi: The Central Government is working on a multi-faceted strategy to make Indian exports more competitive and to remove infrastructural bottlenecks, as per Ministry of Commerce Secretary Ms Rita Teaotia. The ministry is focusing on sectors such as pharmaceuticals, ready-made garments, leather, gems and jewellery, chemicals and agro-chemicals which have huge potential for exports. The ministry is strategically planning to improve trade facilitation while aiming to remove infrastructural bottlenecks, thereby boosting competitiveness of domestic exports. In trade facilitation, there approach is divided into two parts - short term steps which can be acted upon quickly to ease exports and long term steps with a calibrated strategy. The commerce ministry is also looking to reduce to cost of credit to the exporters by considering interest subvention. Despite global slowdown, pharmaceutical exports grew 11 per cent to US$ 1.46 billion and ready-made garments(RMG) recorded a growth of 6.56 per cent at US$ 1.54 billion in July 2015.                        

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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