SME Times News Bureau | 18 Dec, 2018
Ministry is working on multiple fronts in order to help Indian exporters increase
shipments to the world, said Union Minister of Commerce & Industry Suresh
In order to incentivise and encourage Indian
companies to compete globally by improving their exports, the Commerce Ministry
is working on various fronts like creation of new policies, improving Ease of
Doing Business, scrapping irrelevant regulations and formulating the concept of
growth of GDP in every district of the country, said Prabhu.
at the inauguration of the National Forum organized by Department of Industrial
Policy & Promotion (DIPP) and Confederation of Indian Industry (CII), in
New Delhi on Monday, the minister stated that India has not realized its full
potential of exports and cooperation with neighbouring countries like Bangladesh
and Sri Lanka and we must strive to work closely with these countries who have
managed to become a part of the global value chain in industries like textiles.
the Indian economy continues its growth trajectory and strives to reach USD 5
trillion by 2025, the manufacturing sector is expected to play a key role by
contributing USD 1 trillion to the overall target, requiring the sector to grow
2.5 times in next 7 years, he added.
country needs to build further momentum and target at maximizing local value
add, creating scale, capturing global market share and fulfilling India’s job
creation needs, Prabhu said.
two-day forum will discuss issues that are restricting growth in the
manufacturing sector, identify growth drivers and create the roadmap.
sectors shortlisted for the roadmap based on their contribution, size and
potential are automotive, textiles, chemicals, electronics, capital goods, food
processing and metals & mining.
addition, there will be a significant focus of this exercise on various
horizontal pillars of manufacturing, including cost of doing business, EoDB and
trade policy, technology and R&D, job creation and skilling.