 "Export based on world demand, not domestic supply: Govt")
India needs to rethink on which export items it should focus, says a report authored by a senior advisor in the finance ministry. The author, H A C Prasad, senior economic advisor, says these are his views, not of the ministry.
“In 2015, India’s export share in the top 100 world import items at four-digit HS level were more than five per cent in only five items,” says the report. In Value terms, only 1.6 per cent.
These include petroleum oils, diamonds and jewellery, sensitive to small price rises in the production or distribution phases.
“Similar is the case in
