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India's potential for export to SAARC countries must be tapped - Suresh Prabhu

Capital Market 

In order to incentivise and encourage Indian companies to compete globally by improving their exports, the is working on various fronts like creation of new policies, improving Ease of Doing Business, scrapping irrelevant regulations and formulating the concept of growth of GDP in every district of the country. This was stated by Union of Commerce & Industry and Civil Aviation, Suresh Prabhu, in The was speaking at the inauguration of the National Forum organized by (DIPP) and (CII) where discussions were held on moving towards 'USD 1 Trillion economy by 2025'.

The further stated that has not realized its full potential of exports and cooperation with neighbouring countries like and and we must strive to work closely with these countries who have managed to become a part of the global value chain in industries like textiles.

As the Indian economy continues its growth trajectory and strives to reach USD 5 trillion by 2025, the sector is expected to play a key role by contributing USD 1 trillion to the overall target, requiring the sector to grow 2.5 times in next 7 years.

The country needs to build further momentum and target at maximizing local value add, creating scale, capturing global market share and fulfilling India's job creation needs.

of on many occasions has reiterated the need to collectively work towards realising the goals of Make in India and make the country a global & innovation hub. To further strengthen an integrated approach, DIPP with the CII in close association has initiated the exercise towards developing a roadmap for achieving USD 1 Trillion Manufacturing Economy and has designed an action-oriented national level Workshop-cum-policy dialogue forum involving key

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 18 2018. 10:25 IST
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