New Delhi: In a bid to strengthen India’s export capabilities, the Centre has identified 20 countries and six focus sectors, each in commodities and services, as part of a strategic push to increase overseas trade. The list of countries includes Australia, Brazil, Bangladesh, China, France, Germany, Indonesia, Italy, Japan, The Netherlands, Russia, Singapore, South Africa, Saudi Arabia, South Korea, Türkiye, UAE, United Kingdom, USA and Vietnam.
In a written response to the Lok Sabha on Tuesday, Minister of State for Commerce and Industry Jitin Prasada stated that a meeting was held last month with officials from the commercial wings of Indian Missions in these countries to discuss strategies for boosting trade.
“The government has recently identified 20 countries of significance and six focus sectors each in commodities and services,” Prasada stated.
The Meeting focused on exploring strategic solutions for fostering multilateral trade collaboration and streamlining operational and logistical barriers to trade. A set of actionable strategies designed to propel Indian exports forward were recommended which included the establishment of a comprehensive Data Analytics Portal to explore emerging market opportunities and the ‘E-connect Portal’ aimed at supporting Small and Medium Enterprises (SMEs) with market access information.
“The Government interacts with the Export Promotion Councils, Associations, Trade bodies regularly. The concerns raised by the exporters are addressed through various measures including enhancement of export credit by the banks and financial institutions. The Ministries/ Departments concerned and other stakeholders are regularly sensitized from time to time at various levels on the issue of improving credit flow to exporters, especially the MSME exporters,” he answered while responding to the question of whether exporters have expressed concerns regarding declining export credit and high interest rates.
