ECIS to address export problems
The Government is stepping up engagement with EU, US, and UK to secure markets for Indian exports even as it withdrew from the Regional Comprehensive Economic Partnership, Commerce and Industry Minister Piyush Goyal has assured delegates at Export Summit 2019.
He hoped the industry, in return, will support the Government in its efforts to bring down non-essential imports and reduce its dependence on imported goods.
He urged the industry embrace domestic regulation and step up production by taking advantage of the policies the Government is rolling out.
The Government is working to bring more predictability to export finance, exports scheme and productivity, added Goyal.
“Each of our embassies (and missions abroad) must have a representative from Indian states so that there is greater understanding of state level policies for foreign investors,” he said at the conference organised by the Confederation of Indian Industry (CII) in New Delhi 17 Dec 2019.
The Minister said Export Credit Insurance Scheme (ECIS) initiative is for addressing the problems of export financing that industry is facing.
Indian industry must be enabled and empowered to take advantage of global value chains, emphasized Goyal, calling on the importance of Government and industry working together to make industry more competitive and more proactive.
The Minister along with CII Director General Chandrajit Banerjee, launched two reports prepared by CII on “India’s Exports – Trends, Challenges, and Future Strategy” and “India’s Exports to Emerging Economies: Targeting Prospects and Chasing Opportunity” during the conference. fiinews.com
