Home / Knowledge / News / Textiles / Exports earnings may boost states' revenues

Exports earnings may boost states' revenues

14
Apr '08
'Focus product to a Focus Market', should be the orientation of India's trade policy, said Mr Kamal Nath, Minister for Commerce and Industry, Government of India. Indian exporters should look for new markets, markets hitherto unexplored like the countries of East Europe and the CIS countries.

He was speaking in the session- “Interactive Session on Foreign Trade Policy and Procedures 2008-09” organized the Confederation of Indian Industry (CII). The minister said that the annual supplement to the foreign trade policy has laid the ground for targetting 5% of world trade share by 2020.

Mr Nath complimented the Indian industry for the resilient effort on the face of adverse domestic and international economic condition. He noted that the rupee appreciation over the last one year and the slowdown of the US economy have dented Indian exports in the recent times.

Nevertheless, the minister declared that it might be a sense of achievement for the Indian industry but for him it is sense of fulfilment as exports have grown from $64 billion to $155 billion of exports expected by the end of the fiscal 2008-09.

Partnership: The minister said that since four years back when this integrated foreign trade policy (2004-09) was announced, Indian exports have evolved a lot, in terms of the composition of the export basket, new buyers from the emerging economies and overall new found confidence of the Indian industry.

He highlighted the fact partnership between the government and the business community has made this possible. He said that the perception of the world about India has undergone a sea change. Mr Nath said that the annual supplement this year is a package that is a relief to some, comfort to others, while impetus to the rest.

Mr Nath said that the sports and the toys sector have been given special push in the annual supplement keeping in mind Chinese competitiveness in this sector, and India is yet to be a significant player. Mr Nath ended with the optimistic and apt remark that “We haven't missed the bus, its time to board the bus”.

Remanufactured Goods: On remanufactured goods, the minister agreed that there is a need to have a single port of entry for imports and emission standards should be set. The minister also asked CII to prepare a position paper on remanufactured goods imports.


Interviews View All

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Verena Ruckh,

Verena Ruckh

Brückner Trockentechnik develops, manufactures and supplies textile...

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search