Govt to set up Global organisation to promote exports: Suresh Prabhu

Posted by Daily Shipping Times on 29-11-2017        Tweet

MUMBAI: The Government is in the process of setting up an organisation to promote India’s exports in different geographies of the world, developing global linkages and promoting the brand equity of India, said Union Commerce & Industry Minister Suresh Prabhu.

Addressing a Summit organised by the Confederation of Indian Industry (CII) in city, he said, "For the first time, the Government is working on creating a new organisation to promote India’s exports globally. We will have offices at least in 10 different geographies, with market research back-up and promotional activity. With a completely different approach, we will work with the private sector on this, so that we can penetrate global markets effectively."

Mr Prabhu said, "It is not possible for a small businessman to sit in India and do business globally. We want to create support system, especially for small businesses, by creating brand equity for India globally. Linkage with global market is necessary for promoting Indian products and we will do that."

The Minister further said that the Government was trying to identify specific products that can be sold in specific geographies globally through market research.

An industry should have to compete with the best benchmark in the world and build global scale to reap the full benefit as a manufacturer, he said.

Setting the target of one trillion US dollars revenue for the manufacturing sector, he asked the industry to set the timeline and roadmap for achieving the same.

Without the number it was not possible for the industry to prepare a roadmap for achieving the milestone, Mr Prabhu said and identified two initiatives through which this target can be achieved -- identifying industries that are yet to be born for entry and modernisation of the existing industries.

Talking about India's jump by 30 rankings to 100 in 'Ease of Doing Business', the Minister said that they were planning to achieve a position of top 50 ranks in the world.

Underscoring the need of inclusion of the districts for overall industrial development across the Country, Mr Prabhu said that districts must be taken as a unit for overall industrial development.