Market specific business plan being prepared

These export plans should come with rebates just like China which gives incentives to the country’s exporters of value added products. Editor.

The Ministry of Commerce and Industry is in the process of preparing a proper business plan based on scientific market research to promote goods and services globally.

Disclosing this, Minister for Commerce and Industry, Suresh Prabhu said the ministry is in the process of preparing a proper business plan based on scientific market research for each market.

The proper market segmentation need to understand where there is the possibility of penetration of goods and services globally, said Prabhu inaugurating an ASSOCHAM 5th India Luxury Summit- 2017 in New Delhi on 23 Nov 2017.

“We are also trying to create a new industrial policy and trying to create new markets of Indian product globally. Also trying to create the demand for all kinds of products”, he said.

Luxury items will create the demand at all levels. “We must understand the linkage between affluent societies which also creates demand for all,” added Prabhu.

“We need to create a demand of all segments of the society, all levels of developments. Our society must be development aspiration society,” he continued.

“I have met nearly 40-50 ministers and will meet another 50-60 more ministers in few weeks as we are trying to create the market in Latin America and Russia …as we are trying to actually talk to all business associations and trying to engage with it,” he revealed.

The products, which were never exported before, can be exported to different markets, said Prabhu. fii-news.com