Comprehensive export strategy expected soon.
The Federation of Indian Exporters Organisation (FIEO) has identified 685 products based on past Indian export performance and global import performance of various products in its four-pronged strategy for increasing exports by US$100 billion.
The strategy was in response to a call by Commerce and Industry Minister Suresh Prabhu who had sought their suggestions on formulating a strategy for further increasing exports by US$100 billion in the next few years.
The strategy was discussed in New Delhi on 4 July 2018.
But the exporters continued to expressed concern about uncertainties in international trade, political developments in Iran, Russia and the Middle East as well as credit crunch in the domestic market.
Also, exporters suggested for providing branding assistance in existing and new export markets, using Lines of Credit as marketing tool, support for Research & Development and promoting e-commerce.
The Minister assured the exporters that their suggestions will be incorporated in the comprehensive export strategy to be finalised soon.
Total exports, including services, were at US$498.47 billion in 2017-18, up 13.5% on the year. The export growths continue with 20% each increase in merchandise shipment in May and June this year. fiinews.com