Published
Sep 27, 2018
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Commerce and Industry Minister to push increase in textile, jewellery and leather exports

Published
Sep 27, 2018

The Minister of Commerce and Industry, Suresh Prabhu, will review a number of strategies to increase India’s exports next week for nine sectors including textiles, gems and jewellery, and leather.

Minister Suresh Prabhu will review strategies to increase India’s exports for textiles, gems and jewellery, and leather - Shutterstock


The Union Government aims to increase India’s total exports by 20 percent to $400 billion (Rs 26.6 lakh crore) in the coming five years. As part of this initiative, the government will work to increase textiles, gems and jewellery, and leather exports as part of its “Make in India” campaign. Other sectors that the government will focus on include agriculture, pharmaceuticals. The sectors chosen account for 80 percent of India’s total exports, worth $242 billion of India’s export total of $302 billion in the 2018 financial year.

Minister Prabhu had previously asked exporters in the chosen sectors to prepare action plans for increasing exports in order to increase employment and India’s competitiveness in the global market. On October 1, Prabhu will review these action plans as a continuation of meetings on the subject, as reported by ET Bureau.

Problems faced when increasing exports are the uncertainty of global trade, the banking situation, and high logistics costs. The sector-specific action plans will work to counter these potential problems.

Prabhu has contacted the Finance Minister, Arun Jaitley, to ask for an intervention to allow for a greater flow of credit from banks to the export sector. What this means for India’s textile, jewellery, and indeed fashion industry is more support and greater incentives to export goods.

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