India Aims to Boost Exports Through Strategic Global Discussions

NEW DELHI: In a significant move to enhance India's export capabilities, senior officials from the Commerce Ministry and commercial wings of Indian Missions from 20 countries are set to convene for a three-day meeting starting Monday. Commerce and Industry Minister Piyush Goyal is scheduled to interact with these representatives on January 6, focusing on strategies to promote exports of goods and services.

The meeting will address critical issues such as opportunities and challenges in six focus sectors across these countries, non-tariff barriers, logistics, WTO matters, and the role of the Market Access Initiative (MAI). The Commerce Ministry is also developing a strategy to enhance exports of key product categories, including engineering goods and electronics, to these 20 focus countries, which include the US, Australia, France, China, Russia, the UK, Japan, South Korea, Singapore, and Indonesia.

These nations, along with the European Union, represent a significant portion of India's total exports. The initiative comes at a time when India's exports saw a contraction of 4.85% year-on-year in November, despite a double-digit growth in October. The trade deficit also hit a record high due to a surge in gold imports.

Commerce Secretary Sunil Barthwal and DPIIT Secretary Amardeep Singh Bhatia will address the officials, highlighting the importance of focusing on 20 countries and six services and manufacturing sectors, including IT/ITeS, to boost shipments. Services exports reached an all-time high in October, indicating a promising direction for India's export strategy.