PM Modi will work together with heads of Indian Missions overseas.
It added that exports have an enormous employment technology potential, particularly for MSMEs and labour-intensive sectors.
- PTI New Delhi
- Last Updated:August 05, 2021, 23:30 IST
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Prime Minister Narendra Modi will work together with heads of Indian Missions overseas alongside with stakeholders of commerce and commerce on Friday with a view to broaden export potential and improve the nation’s share in international commerce, an official assertion stated. It added that exports have an enormous employment technology potential, particularly for MSMEs and labour-intensive sectors, with a cascading impact on the manufacturing sector and the general financial system.
“The function of the interplay is to present a focussed thrust to leverage and broaden India’s export and its share in international 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 statement issued on Thursday said.
The commerce minister and the external affairs minister will also be present during the interaction. It will also witness participation of secretaries of more than 20 departments, state government officials, members of Export Promotion Councils and Chambers of Commerce, it added.
The interaction assumes significance as the commerce ministry has fixed an export target of USD 400 billion for the current fiscal. The outbound shipments of the country are recording healthy growth rates.
The country’s exports grew by 47.19 per cent to USD 35.17 billion in July on account of healthy growth in the outbound shipments of petroleum, engineering, and gems and jewellery. Imports during the month also rose by 59.38 per cent to USD 46.40 billion, leaving a trade deficit of USD 11.23 billion in July. Exports during April-July 2021-22 rose by 73.86 per cent to USD 130.56 billion, as against USD 75.10 billion in the same period last year.
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