Sakthivel calls for Rs.500 crore export promotion fund
India is moving ahead with Free Trade Agreements with the UK, Canada, Israel, GCC and EU, said Minister of State for Commerce and Industry Anupriya Patel, referring to the better market access provided by the Government through FTAs already in place with international markets.
Patel assured, “India is blessed with exquisite products in each district and the Government will facilitate, support and extend all help to promote exports.”
She has also told Indian exporters to invest in R&D and focus on innovation to keep the country’s exports on growth trajectory,
Highlighting that India is set for transition from a developing to a developed economy in the next 25 years with impetus provided by exports, she made the call to exporters at the FIEO Western Region Export Excellence awards in Mumbai on 25 March 2023.
While welcoming Minister Patel, FIEO President Dr A Sakthivel also called for Rs.500 crore export promotion fund for aggressive marketing as small exporters find it difficult to market overseas with their limited resources.
“We need to set up state of art exposition centres where State’s artisans and craftsmen can showcase their best products, which can help them to contribute in international trade,” he underlined.
Also speaking at the award, FIEO Vice President Khalid Khan pointed out that exports are not only vital for earning the valuable foreign exchange but more importantly creating employment opportunities and giving a push to a country’s GDP.
All those years, when the economy touched 8% plus growth were the years when exports clocked over 15% plus growth, he recalled. “If exports show 15-20% growth, the Indian economy will be on a double-digit trajectory,” he stressed. fiinews.com
