Letters to BS: India needs momentum to achieve $300-mn export target

To raise exports, Prabhu's offer at the third meeting of the Council for Trade Development and Promotion to provide incentives for states is a practical idea that can be implemented quickly

The uptick in exports is gratifying, Union Minister of Commerce, Suresh Prabhu should be complimented. However, efforts should be continued to keep this pace in the months to come to achieve $300 billion export target for the current year 2017-18. With the  exports restrictions imposed by EU, exports of agro-products is expected to show dismal performance.
 
The Union Ministry of Commerce and Industry should focus on this issue and exports to African countries must be stepped up by offering them longer credit days. Longer credit days without Libor rates will go a long-way to sustain and increase rice exports to Africa. Neighbouring Bangladesh imports rice from India now, but this is only a stop gap arrangement for Bangladesh until it comes out of temporary shortages due to recent floods and damage of crops. To raise exports, Prabhu’s offer at the third meeting of the Council for Trade Development and Promotion (CTDP) to provide incentives for states is a practical idea that can be implemented quickly. Each state has export potential commodities, for example, Rajasthan has guar gum, Assam has tea and bamboo, Tamil Nadu has leather, textiles and many more. Sincere efforts should be made by the states to take the suggestions to push exports.
 
To further encourage exports and also identify new areas of exports, states should be given incentives. On new areas of exports with tremendous export scope, the Tamil Nadu and Andhra Pradesh governments should concentrate on high value and monopolistic items such as handicrafts made of Red Sanders. Another measure to push exports, there is a need to provide Market Development Assistance to local participation of trade fairs in states. These days a number of states have exhibition-cum-convention centres where product-wise trade fairs are held regularly. These specialised trade fair organisers should invite overseas buyers which at present lack adequate publicity. The CTDP should also discuss Trade Infrastructure for Exports Scheme (TIES) regularly as infrastructure projects focusing exports is an important aspect for propelling exports. The CTDP should also meet once in every month and deliberate, take decisions on export scenarios prevailing, course corrections needed etc.

A Sathyanarayana, New Delhi Letters can be mailed, faxed or e-mailed to: 

The Editor, Business Standard

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Letters can be mailed, faxed or e-mailed to: 

The Editor, Business Standard

Nehru House, 4 Bahadur Shah Zafar Marg 

New Delhi 110 002 

Fax: (011) 23720201  •  E-mail: letters@bsmail.in

All letters must have a postal address and telephone number