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08 January
2019
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Exports (The Total Investment & Insurance Solutions)
In the wake of growing protectionism
globally, centre, state governments and industry representatives will meet on
January 10 to discuss ways to boost the country's exports, an official said
Tuesday.
The issues would be deliberated upon in the
fourth meeting of the Council for Trade Development and Promotion, which will
be chaired by the Commerce and Industry Minister Suresh Prabhu. Trade ministers
from different states including Uttar Pradesh, Punjab, Haryana and Karnataka
are expected to attend the meeting, the official added. The council was
constituted in July 2015 to promote India's overseas shipments.
The
meeting assumes significance as states play a proactive role in promoting
outbound shipments. The commerce ministry has advised all the states to
formulate their export policies and appoint export commissioners. The issues
which are likely to figure in the meeting include ways to enhance export
competitiveness, quality and standards of products.
The council acts as a platform to develop
partnership with states with an aim to boost international trade. Besides
trade/commerce ministers of states and union territories, 14 secretaries of the
central government, including commerce, revenue, shipping, civil aviation,
agriculture, food processing and economic affairs are the members of the
council.
The
council also provides a platform to state governments and UTs for articulating
their perspective on trade policy to help them develop and pursue export
strategies in line with the national foreign trade policy. Federation of Indian
Export Organisations (FIEO) President Ganesh Kumar Gupta said issues related to
credit and modern infrastructure need to be resolved to push the exports.
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. Experts have cautioned that growing trade
tensions between the US and China could impact global trade growth.
Imposition of high import duties by the US
this year on certain steel and aluminium products have triggered a trade war
kind of situation. The World Trade Organisation (WTO) too has stated that
escalating trade tensions and tighter credit market conditions in important
markets will slow trade growth in 2019. During April-November 2018-19, the
country's exports grew 11.58 per cent to USD 217.52 billion.The Total Investment & Insurance
Solutions
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