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Govt focusing on 9 sectors to boost exports; eyes 16% growth in FY18

Gems and jewellery, textiles, leather, engineering, electronics, defence, pharma, agri and marine products are the sectors

Topics
Commerce Ministry  |  Food Processing  |  Defence Ministry

Press Trust of India  |  New Delhi 

Exports

The is focusing on nine sectors, including pharma, and textiles, to boost in the current fiscal, an official said.

The ministry is targeting a minimum growth rate of 16 per cent in this fiscal.

Commerce and Industry Minister Monday held inter-ministerial consultations with different departments to work on ways to promote the from these segments.

"The ministry is targeting nine sectors as part of their strategy to boost exports. The minister held discussions on strategy with line ministries," the official said.

Gems and jewellery, textiles, leather, engineering, electronics, defence, pharma, agri and are the sectors.

To push exports, the ministry has suggested several steps including demanding priority sector lending to exporters.

During the meeting, the sought cooperation of the to boost defence exports from Rs 5,000 crore to Rs 35,000 crore in the coming years.

All other departments and ministries suggested steps to boost overseas shipments.

Ministry of and suggested formulating a strategy to attract companies that are shifting their manufacturing bases from due to high wages.

The Department of Chemicals stated that they are looking at new countries for exports and raised delay in environmental clearance for agro-chemical sector.

Since 2011-12, India's exports have been hovering at around USD 300 billion. During 2017-18, the shipments grew by about 10 per cent to USD 303 billion.

First Published: Mon, October 01 2018. 21:50 IST
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