Focus will be on export promotion & Industrial Corridors in next one year : Suresh Prabhu

  • 01-Jun-2018
  • Focus will be on export promotion & Industrial Corridors in next one year : Suresh Prabhu

The Commerce and Industry Ministry will work on several areas, including formulation of a comprehensive action plan to boost exports and give special thrust on industrial corridors in the last one year of the NDA Government, Union Minister Suresh Prabhu said. Expressing satisfaction over the performance of his Ministry in the last four years, Prabhu said several steps were taken to promote exports as well as industrial growth and many more initiatives are in the offing. “We will release agriculture export policy this year, besides creating logistics hubs and bringing a Multi-Modal (logistics) bill this year,” he said recently.

“I have told the Director General of Foreign Trade (DGFT) to prepare a Country and product specific plan to boost exports. These plans are being dovetailed into the action plan, collected from concerned Ministries. We have given time to them by end of this month,” he said. The Ministry has also asked the Federation of Indian Export Organisations (FIEO) to involve all Export Promotion Councils and prepare their independent plan this year to increase exports.

Exports increased by 9.78 per cent in 2017-18 to USD 303 billion. On the industry side, Prabhu said, the Ministry will come out with a new industrial policy and give a special thrust on the industrial corridors, which are under different stages of implementation. “We will also undertake GIs (Geographical Indications) campaigns and come out with a district level plan to promote economic activities. That is happening this year,” he added.

A GI is primarily an agricultural, natural or a manufactured product (handicrafts and industrial goods) originating from a definite geographical territory. Typically, such a name conveys an assurance of quality and distinctiveness, which is essentially attributable to the place of its origin. Darjeeling Tea, Tirupathi Laddu, Kangra Paintings, Nagpur Orange and Kashmir Pashmina are among the registered GIs in India.

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