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28-Nov2017

Govt in process of setting up a new organisation to promote exports globally: Suresh Prabhu

Commerce and Industry Minister Suresh Prabhu has said that the government is in the process of setting up a new organisation to promote exports in different geographies of the world, developing global linkages. The minister also made a case for treating support measures to promote exports as investment and not subsidies, arguing that outbound shipments contribute in a big way to boosting growth.

Prabhu said that for the first time, the government is working on creating a new organisation to promote India's exports globally. We will have offices at least in 10 different geographies, with market research back-up and promotional activity. With a completely different approach, we will work with the private sector on this, so that we can penetrate global markets effectively. He added that “We want to create support system ... by creating brand equity for India globally. Linkage with global market is necessary for promoting Indian products and we will do that”.

The minister emphasised that exports can benefit the economy in a much shorter term than any other economic activity. He further said that exports have both domestic and global benefits, adding that on the external front, the outbound shipments create an economic footprint globally, which has its own geo-political advantages.


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