PM to interact with heads of Indian Missions abroad, stakeholders of trade, commerce on Friday

Prime Minister Narendra Modi will work together with heads of Indian Missions overseas together with stakeholders of commerce and commerce on Friday with a view to broaden export potential and enhance the nation’s share in world commerce, an official assertion stated. It added that exports have an enormous employment era potential, particularly for MSMEs and labour-intensive sectors, with a cascading impact on the manufacturing sector and the general economic system.

“The aim of the interplay is to supply a focussed thrust to leverage and broaden India’s export and its share in world commerce. The interplay goals to energise all stakeholders in the direction of increasing our export potential and using the native capabilities to fulfil the worldwide demand,” the assertion issued on Thursday stated.

The commerce minister and the exterior affairs minister will even be current through the interplay.

It would additionally witness participation of secretaries of greater than 20 departments, state authorities officers, members of Export Promotion Councils and Chambers of Commerce, it added.

The interplay assumes significance because the commerce ministry has fastened an export goal of USD 400 billion for the present fiscal. The outbound shipments of the nation are recording wholesome development charges.

The nation’s exports grew by 47.19 per cent to USD 35.17 billion in July on account of wholesome development within the outbound shipments of petroleum, engineering, and gems and jewelry.

Imports through the month additionally rose by 59.38 per cent to USD 46.40 billion, leaving a commerce deficit of USD 11.23 billion in July.

Exports throughout April-July 2021-22 rose by 73.86 per cent to USD 130.56 billion, as towards USD 75.10 billion in the identical interval final 12 months.