Soon will hold meeting with Indian Bank Association: Suresh Prabhu

Union Minister for Commerce and Industry Suresh Prabhu said that he will soon hold a meeting with Indian Bank Association to discuss the treatment of exports as priority sector lending by the banking system.

While addressing major trade houses and exporters, he said, "Exports should be treated as priority sector lending by the banking system. Soon we will be holding a meeting with Indian Bank Association to discuss the issue."

Prabhu also discussed a strategy to add USD 100 billion to Indian exports.

Further talking about the increasing rate of growth in exports, he said, India's exports may record about 20 percent growth in June.

"In May, our exports went up by almost 20 percent and it looks like in June also, our rate of growth in exports will be close to 20 per cent," he said.

However, according to the Union Minister, these are challenging times for global trade as "countries are taking protectionist measures.