Union Minister of Commerce & Industry and Civil Aviation today chaired a meeting of different exports stakeholders and Commerce Ministry officers to discuss a strategy for revitalizing India’s exports and doubling the country’s exports by 2025. The Minister said that this is necessary in view of challenges like uncertainty of global trade, rigid approach of banks affecting availability of credit, high logistics cost and productivity standards and qualities. Exports create jobs, bring in foreign exchange and validate India’s international competitiveness. Minister of State, C R Chaudhary will be the chairperson of this mission and will regularly review the work of different export promotion councils and divisions of the Ministry of Commerce.
The Commerce Minister said that apart from traditional markets India must also look at boosting trade with smaller countries and explore new territories like Africa which has 54 countries but accounts for only 8 % of exports from India. The Minister exhorted exporters to not miss the opportunity presented by China’s consumer market and make the most of the world’s mega import expo being held in China in November, 2018.