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Govt plans to enhance commerce and industry

05
Jan '11
In relation with the government's 1.2 billion rupee trade and commerce development agenda for the current calendar year, the Industry and Commerce Minister Rishard Bathuideen recently unveiled a detailed month-wise action plan at the Ministry auditorium.

The plan provides a clear breakup of the work target to be achieved by close of every month, so as to ensure that the supervision work with respect to implementation and progress of the plan is being carried out on a monthly basis.

The Minister said that, as the 2011 budget mainly focuses on the development of private sector, the key functions of the Industry and Commerce Ministry should mainly remain concentrated within the set boundaries.

The total sum of 1.2 billion would be differently allocated to different sectors like Rs 450 million would be allocated for the export development initiatives, Rs 501 million to the Commerce Ministry on trade development, Rs 263 million for development of Industrial estates, Rs 25 million for Textile development, Rs 45 million to Dye and mould facilitation centres and Rs 15 million to the Leather and Footwear Industry.

Allocation of the funds has been done to various sectors across the entire value chain, depending on a cautiously planned trade and development strategy, the Minister said.

At the end of every quarter all the members of the Advisory Committee of the Ministry and Export Development Board (EDB) who represent the private sector would be consulted so as to get a clear idea regarding each market segment and product category from the grass root level, which would help the government officials to better associate with the sectors, thereby ensuring competitiveness for the country's trade.

The Minister even emphasized on the role that the trade officers would play in their respective markets in order to boost the country's exports to $15 billion by 2015 and $20 billion by 2020.

Fibre2fashion News Desk - India


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