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Updated August 6th, 2021 at 22:40 IST

PM Modi interacts with Heads Of Indian Missions Abroad; Lists key factors to boost exports

Prime Minister Narendra Modi interacted with Heads of Indian Missions abroad and stakeholders of the trade and commerce sector via video conference on Friday.

Reported by: Gloria Methri
PM Modi
Image Credit: PTI | Image:self
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Prime Minister Narendra Modi interacted with Heads of Indian Missions abroad and stakeholders of the trade and commerce sector via video conference on Friday. The event marks a clarion call by the PM for ‘Local Goes Global - Make in India for the World’.  Addressing the gathering, PM Modi lauded the stakeholders for their contribution towards the initiative and commended the enthusiasm, optimism, and commitment they showed to achieve the nation's ambitious goals regarding exports. 

He reminded that one of the major reasons India had the highest share in the global economy was its strong trade and exports. He stressed the importance of strengthening our exports in regaining our old share in the global economy. The Prime Minister urged the stakeholders to take advantage of the new opportunities created by the changes in the Global Supply Chain in the Post Covid Global World. 

"Considering the size of our economy and potential, our manufacturing and service industry base, there is tremendous potential for export growth. As the country is moving towards the mission of Atmanirbhar Bharat, one of its goals is to increase India's share in exports manifold," he said.

PM lists 4 key factors for increasing exports

The Prime Minister listed four important factors for increasing exports, through which the country will be able to achieve its 'Make in India for the world' goal in a better way.

  1. Manufacturing in the country has increased manifold and that has to be qualitatively competitive. 
  2. The problems of transport, logistics should be removed for that Centre, states and private stakeholders will have to work continuously. 
  3. The government should walk shoulder to shoulder with the exporters 
  4. The international market for Indian products needs to be expanded. 

PM Modi stressed the role of states in achieving the export targets and implementing reforms, attracting investment, easing doing business, and creating last-mile infrastructure. He said the central government works closely with the states to minimize the regulatory burden to increase export and investment. He said healthy competition is being promoted between the states to make export hubs in the states. States are being encouraged to focus on one product in each district.

"Our ambitious target regarding exports can be achieved only through a holistic and detailed action plan. I urge the stakeholders to accelerate your existing exports and also work to create markets, new destinations for new products," he said. 

At present, almost half of our exports are to only four major destinations. Similarly, about 60 percent of our exports are related to Engineering Goods, Gems and Jewellery, Petroleum and Chemical Products, and Pharmaceuticals, PM said. He added that with the opening of sectors like Mining, Coal, Defense, Railways, our entrepreneurs are also getting new opportunities to increase exports.

PM Modi said to the Ambassadors and officials from the Ministry of External Affairs that in whichever country they are representing India, they understand the needs of that country very well. He asked them to act as a bridge for the commerce industry here. He urged that Indian Houses present in different countries should also represent India's manufacturing power. He requested the Ministry of Commerce to establish such a system that there is constant communication between our exporters and our missions.

"For maximum benefit to our economy from our exports, we have to build a seamless and high-quality supply chain within the country as well. For this we need to build a new relationship and a new partnership," said PM, requesting all Exporters to strengthen partnership with our MSMEs, farmers, and fishermen, promote Indian Startups and support them.

Image Credit: PTI

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Published August 6th, 2021 at 22:40 IST

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