Piyush Goyal lists sectors to boost exports; fears this key concern can push India out of market

By: |
Updated: Feb 18, 2020 10:29 AM

Piyush Goyal underlined that the scale of production will play a very important role in remaining competitive in the global market.

The aim of this move is to help the government in designing better target export promotion policies.

Laying the roadmap of increasing quality exports, Union Minister of State for Commerce and Industry, Som Prakash said that the challenge is to ensure that the maximum procurements by different ministries are done through Government –Marketplace (GeM).

Also Read: Foreign investors return India with bag full of investment; FPI in Feb shine as forex hits record high

Meanwhile, Prime Minister Narendra Modi had said that each district of India has much to offer and the time has come to think about how India can boost exports. He had also urged to make local products attractive with the guiding principle of Zero Defect, Zero Effect.

Now, in-line with the same objective, the Central Board of Indirect Taxes & Customs (CBIC) has started capturing district and state of origin of goods in export declarations from 15th Feb. The aim of this move is to help the government in designing better target export promotion policies.

Do you know What is Positive GDP growth seen in Q3, need to fight inflation: RB, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1FinMin allows Madhya Pradesh to raise Rs 1,423 cr additional fund through market borrowing
2COVID-19 pandemic increasing disparities, social fragmentation; threatening economy, geopolitical stability: WEF study
3India Subcontracting Expo 2021 to highlight trade opportunities in India for US businesses