Working on different areas to boost exports: Commerce minister Suresh Prabhu
The commerce and industry ministry is working on different areas such as improving standards of products and identifying new markets and goods to promote the country’s exports, Union Minister Suresh Prabhu today said.
He said the ministry is also working on ways to promote shipments in Africa as the region holds huge potential.
The commerce and industry minister is visiting Africa at the end of the month to discuss trade and investment opportunities with businesses and leaders of 12 countries.
“We are working on several areas to promote exports. We are working on standards and to improve quality of products. We are identifying new markets and products,” he said here while launching FIEO GlobalLinker.
It is a digital platform for micro, small and medium scale exporters (MSME) to digitise their businesses.
The platform would provide business opportunities, information and different services such as alerts of technical barrier and change in trade policies, if any.
MSME accounts for about 40 per cent of the country’s total exports.
India’s exports dipped after a gap of four months in March but finished 2017-18 with a healthy rise of 9.78 per cent to USD 302.84 billion.
The minister said that this initiative will help in expanding India’s multi-focused export strategy and also aid in connecting art and artisans to the market.
Prabhu also informed that at least 300 Geographical Indications (GIs) will be registered soon, which will give a boost to exports.
A GI is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. Such a name conveys an assurance of quality and distinctiveness which is essentially attributable to its origin in that defined geographical locality.
Darjeeling Tea, Mahabaleshwar Strawberry, Blue Pottery of Jaipur, Banarasi Sarees and Tirupati Laddus are some of the GIs.