Home / Knowledge / News / Textiles / India plans strategy to double exports by 2025: minister

India plans strategy to double exports by 2025: minister

30
Aug '18
Indian commerce and industry minister Suresh Prabhu recently chaired a meeting of exports stakeholders and commerce ministry officials to discuss a strategy to double exports by 2025, which is necessary due to uncertainty in global trade, rigid approach of banks affecting availability of credit, high logistics cost and productivity standards and qualities.

Minister of state in the same ministry CR Chaudhary will chair the mission and will review the work of different export promotion councils and divisions of the ministry of commerce, according to an official press release.

The Indian cabinet has approved the proposal of the department of commerce to pay attention to 12 identified champion services sectors for promoting their development and realizing their potential.

The agricultural export policy is in the process of being finalized after incorporating stakeholders’ comments, the minister said.

A commodity-specific strategy is being prepared for items like gems and jewellery, leather, textile and apparel, engineering, electronics, chemicals and petrochemicals, pharmaceuticals, agriculture and allied products, and marine products.

A territory-specific strategy will cover North American Free Trade Agreement (NAFTA), Europe, North East Asia, ASEAN, South Asia, Latin America, Africa and WANA, Australia, New Zealand, and CIS.

India must also look at boosting trade with smaller countries and explore new territories like Africa which has 54 countries but accounts for only 8 per cent of exports from India, the minister added. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: UBC

Apparel/Garments | On 25th May 2020

Canadian researchers develop biodegradable medical mask

Researchers in the BioProducts Institute at the University of British ...

Pic: Shutterstock

Apparel/Garments | On 25th May 2020

Sri Lanka’s BOI to set up garment park in Eravur

Sri Lanka’s Board of Investment (BOI) will set up a garment park in...

Pic: Shutterstock

Retail | On 25th May 2020

Reitmans seeks bankruptcy protection in Canada

Reitmans (Canada) Ltd. recently filed for bankruptcy protection after ...

Interviews View All

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Eric Schoeller,

Eric Schoeller

Groz-Beckert is the world's leading provider of industrial machine...

Priyanka Gandhi,

Priyanka Gandhi

Established in 2016, Surat-based Shree Ganesh Yarns is a manufacturer of...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search