NEW DELHI: ASSOCHAM, the representative organ of Corporate India, articulates the genuine, legitimate needs and interests of the nation. In an open economy framework, the strategy for development is generally focused on export-led growth through the optimal utilization of the Country’s comparative advantage vis-à-vis the rest of the world. However, the despondency over the consistent decline in India’s merchandise exports over the last 16 months has diverted attention from an important aspect of its trade performance during the last few years. Despite implementation of various measures for export promotion such as export diversification, trade facilitation, boost to create logistics infrastructure, MEIS, SFIS and enhanced availability of trade facilities not yielded positive results in last 16 months.
The Apex Chamber states that the roots of India’s declining exports are deeper, and have no short-term fix, such as letting the rupee depreciate against the dollar, simply because India’s export basket is no longer as price elastic as it once was. In the above backdrop, an important question that needs to be asked is regarding the need to have an export strategy. An export strategy with the objective of doubling India’s exports and its share in global trade that would help the economy focusing on those sectors having prospects for export expansion and potential for employment generation. In this backdrop ASSOCHAM is organizing a conference titled ‘Strategies for Double Digit Growth in Exports’ today at Hotel Shangri-La, Delhi. The Chief Guest for this event will be Smt. Nirmala Sitharaman, Hon’ble Minister of State (I/C), Commerce & Industry, Government of India.
Source: Dailyshippingtimes.com
