pennews
www.pennews.net
Govt to boost export promotion, domestic manufacturing
Business

Govt to boost export promotion, domestic manufacturing

Agency News

New Delhi, June 7: For boosting exports and domestic manufacturing and reducing trade deficit, Union Commerce and Industry Minister Piyush Goyal stressed on Thursday that ministries or departments can no longer work in isolation for effective outcome of the government policy.

''There is a need to shift away from small subsidies to boost export competitiveness... to focus more on cluster development,'' said Goyal briefing reporters here after the joint meeting of Board of Trade and Council of Trade Development & Promotion.

Goyal chaired the meeting and held a day long interaction with the industry and Agriculture Ministers of the States, industrialists, Export Promotion Councils, and representatives of the economic and infrastructure Ministries of the Central Government for boosting exports and domestic manufacturing and reducing trade deficit.

The Commerce and Industry Minister further said that action on many of the decisions arrived at today’s meeting will be taken in next 45 days.  He also announced that the next follow up meeting would be held in 45 days.

Goyal said easier availability of credit at cheaper rates to exporters will be resolved expeditiously and customs clearances will be made quicker by installing X Ray scanners at all major Ports. Robust mechanism for Track and Trace in Pharma sector will be implemented in three months, a new scheme to rebate state and central taxes and levies will be rolled out in 3 months and will be implemented in a phased manner for all sectors, the Minister added.

During the day-long deliberations, exporters spoke about trade disputes between US and China, ongoing negotiations under Regional Comprehensive Economic Partnership, difficulties in availability of export credit. Specific action points for the implementation of new Agricultural Export Policy, reducing logistics costs, improving ease of doing business in all States, increasing domestic manufacturing and reducing imports were identified.

States were urged to finalise their export strategies at the earliest keeping in view their state specific requirements and advantages.The Commerce and Industry Minister exhorted the State Governments to adopt GeM, a one stop online procurement portal for better transparency and efficiency. State Governments agreed to take steps in strengthening the entrepreneurship and startup ecosystem.

A number of decisions were taken during the meeting which include investigations on imports under the anti-dumping mechanism will be expedited, particularly products of the MSMEs with the help of industry associations and steps to boost exports of organic produce, and ways to rationalize the mandi fees across states would be examined.

The top 50 tariff lines, which constitute 60 per cent of India’s import, will be examined in detail for possible ways to reduce import dependence and Export Credit Guarantee Corporation of India (ECGC) would fast track the disposal of claims and put in public domain the pending claims for the benefit of the industry. (UNI)