Commerce and Industry Minister Suresh Prabhu today asked various departments and ministries, including agriculture and pharma, to submit their respective action plans for boosting exports.
Addressing secretaries and senior officers of different departments at the first inter-ministerial meeting on Sectoral Export Promotion Strategy, he asked them to submit their plans within a fortnight, an official statement said.
"The action plan should also have short term targets which are achievable in the next two months," the ministry said.
He said that exports are strategically important for the country and sustained growth in the shipments is critical for India.
"It is therefore imperative to promote exports as a combined and joint mission which requires the effort of all ministries and departments of the government," he added.
The commerce ministry will take the assistance of the ministry of external affairs to implement the action plans through commercial missions abroad.
Emphasising on the importance of involvement of states in promoting exports, the minister stated that regional authorities of the Directorate General of Foreign Trade (DGFT) have been assigned to work with states to assist them in formulation and implementation of export policy.
Further, a task force on SEZs (special economic zones) has also been set up to ensure that export potential from these zones is utilized fully.
He suggested that the department of commerce can organise road-shows and exhibitions for their sectors and products.
Prabhu stated that a holistic approach to manufacturing and exports is the need of the hour as protectionist approach may actually have a negative impact on value added items of export.
"We need to push the idea of looking for new markets as well as exporting new products," he said, adding that after receiving the respective action plans, the ministry will carry stakeholder consultations.
A Best Exporting Ministry/Department Award' will also be announced.
Prabhu also advised the EXIM bank to prepare an action plan to alleviate the financial difficulties being faced by exporters.
Speaking at the meeting, Commerce Secretary Rita Teaotia said that while there has been a 10 per cent growth in merchandise exports in the current year, "our share in global trade is static at 1.7 per cent" in goods shipments and 3.4 per cent is services exports.
"We need to look at new markets. While we have done well in US and Europe there has not been adequate focus on fast emerging markets in Asia. We need to focus more on exports to China, Latin America and Africa," she said.
The meeting was attended by secretaries from Department of Commerce, DIPP, Electronics and IT, Animal Husbandry and Dairying and MSME, besides senior officers from 14 other administrative ministries and departments including Agriculture, Textiles, Petroleum, Food Processing, Pharma, Chemical and Petrochemical and Defence production.
The meeting assumes significance as India's exports dipped after a gap of four months in March. Exports contracted by 0.66 per cent to USD 29.11 billion due to negative growth in several key sectors.
Petroleum products, carpet, jute items, ready- made 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.
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