Suresh Prabhu convenes Inter-Ministerial meeting to discuss ways to boost exports

Posted by Daily Shipping Times on 09-05-2018        Tweet

NEW DELHI: Commerce and Industry Minister Suresh Prabhu has called a meeting of various departments, including Finance and Textiles, to discuss ways to promote exports. "The meeting would deliberate upon ways on sectoral export promotion strategy," a Ministry official said.

The meeting assumes significance as India's exports dipped after a gap of four months in March. Exports contracted by 0.66 percent to USD 29.11 billion due to negative growth in several key sectors.

Petroleum products, carpet, jute items, readymade garments, gems and jewellery, iron, ore, meat, dairy and poultry products, oil meals and oil seeds were among the products that witnessed a decline in March.

Officials from different Ministries and Departments including Petroleum, Civil Aviation, Agriculture, Pharmaceutical, MSME, Telecommunication, Skill Development, Mines and Electronics and Information Technology would participate in the meeting.

To increase the country's exports, the Ministry is taking steps such as involving states and promoting Ease of Doing Business.

States such as Maharashtra, Tamil Nadu, Gujarat and Karnataka contribute significantly to the exports.

The outbound shipments aggregated at USD 302.84 billion in 2017-18 as compared to USD 275.85 billion in the previous fiscal.