Government has taken a number of steps like promoting access to new products and finding new geographical areas to boost exports, Minister of State for Commerce Nirmala Sitharaman said today.
The share of India’s export in global trade was 2.2 per cent in 2015, of which the share of merchandise exports was 1.6 per cent and commercial services 3.3 per cent, she said in Lok Sabha during Question Hour.
Promoting access to new products, finding new geographical regions through market access initiatives and market development assistance schemes, promoting product standards, packaging and branding of Indian products and providing facility for duty free import of inputs and machinery required for export production are some of the steps being taken to boost exports, she said.
“While government is taking a number of initiatives to increase exports, it is not possible to predict the exact outcome in terms of capturing greater market share in global trade. The annual exports will also depend on a large number of factors related to the global economy, as they shape in the future,” Sitharaman said.