Research-based market plan for exports being prepared: Suresh Prabhu

Minister of Commerce and Industry Suresh Prabhu stated that a business plan is being prepared based on scientific market research to promote goods and services globally.

The Minister, while inaugurating ASSOCHAM's 5th India Luxury Summit- 2017 on Thursday said for each of the markets, the Ministry of Commerce is in the process of preparing a proper business plan based on scientific market research.

The proper market segmentation need to understand where there is the possibility of penetration of goods and services globally. We are also trying to create a new industrial policy and trying to create new markets of Indian product globally. We're also trying to create the demand for all kinds of products," he said.

Further, Prabhu noted demand for products needs to be generated across all sessions of the society, adding that the linkage between affluent societies is whats creates demand for all.

"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. We as we are trying to actually talk to all business associations and trying to engage with it," he said.