Central scheme being formulated to create export infrastructure

Almost all the states had sought a central scheme which supports export infrastructure

GN Bureau | January 5, 2017


#Nirmala Sitharaman   #Trade Policy   #Commerce   #Industry  


The central government is trying to formulate a scheme that will help create export infrastructure, commerce and industry minister Nirmala Sitharaman said on Thursday.

“As almost all the states had expressed their wish for a central scheme which supports export infrastructure, we have acted on your suggestion and are trying to formulate a scheme which could provide financial support and supplement your efforts to create export infrastructure,” said the minister.

“I hope we can soon succeed in achieving a consensus for the roll out of this scheme, which is very aptly titled as TIES or Trade Infrastructure for Export Scheme. This would surely strengthen our TIES with the states,” she added.

At a meeting of Council for Trade Development and Promotion, the minister said that though, since last January we have managed to contain our trade deficit due to controls on imports, there is an immediate need to synergize our efforts and jointly take appropriate steps to boost India’s exports - which is the only sustainable way in today’s international trade environment

“As you already know, there is a slowdown in world economy which has resulted in decrease in some of India’s traditional exports,” she added.

She exhorted the states to  enhance their co-operation with central agencies for setting up common facilities like testing labs, training institutes as well as packaging and storage support to industry.

“States have also been requested to develop their export strategy aligned with the National Policy trade. So far, 17 states have prepared their export strategy.  I request the balance states to kindly expedite their export strategies.”

She added that “our services trade surplus offsets our merchandise trade deficit to an extent and along with overseas remittances, keeps our current account deficit in check. While IT and IT enabled services have an overwhelming predominance in our services exports, these are largely restricted to the US and EU markets and are therefore vulnerable to any changes imposed by these two trading blocks. There is thus a need to diversify our services exports basket by enabling more sectors and to breach more markets.”

Read highlights of the foreign trade policy 2015-2020

 

Comments

 

Other News

Maharashtra to spend Rs 2,500 crore to augment, develop power infrastructure

The Maharashtra government has announced a spending of Rs 2,500 crore annually to develop infrastructure of state-owned distribution company Mahavitaran (MSEDCL).   Out of the total amount, Rs 1,500 crore will be spent on energisation of conventional agriculture pumps and Rs 1,000 crore

Launched: Largest vaccination drive in history

India on Saturday began the massive vaccination drive against Covid-19, as prime minister Narendra Modi paid tributes the ‘corona warriors’. “Such a vaccination drive at such a massive scale was never conducted in history. There are over 100 countries having less than 3 cro

"TV not in business of news; it is in the business of polarisation”

Television news these days has a loose relationship with truth, says senior journalist, columnist and author Vir Sanghvi, adding that it is not telling the truth and polarising opinions. In a live webcast with Kailashnath Adhikari, MD, Governance Now, during the Visionary Talk series held by

How the colonial rulers combated “this insidious and growing danger” of dust and smoke

Dust and Smoke: Air Pollution and Colonial Urbanism: India, c. 1860-1940 By Awadhendra Sharan Orient BlackSwan, xxiv+320 pages, Rs 795 Air pollu

Unlocking the value of renewable energy assets through InVITs in India

India has been witnessing a sluggish demand growth for power amidst COVID-19. It has affected both thermal as well as renewable energy (RE) sector. While thermal sector (coal) plant load factor (PLF) is coming down continuously amidst no new generation building up, renewable energy held its ground through

“Proposed power amendments anti- people, favor licensees”

Maharashtra Veej Grahak Sanghatana, a state-level coordination committee of industrial associations and power consumers, has approached the state government for urgent intervention on key concerns after Maharashtra Electricity Regulatory Commission on December 9 published the draft of the MERC (Electricity

Visionary Talk with Vir Sanghvi On the future of News Journalism





Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter