Foreign trade policy 2014-19 very soon: Kher

Tags: Economy
The Commerce and Industry Ministry is expected to announce "soon" the new five-year foreign trade policy (2014-19) as it seeks to boost manufacturing and exports, among other things.

"We are tying up the issues...But I am sure it will come very soon," Commerce Secretary Rajeev Kher told reporters.

The new policy would focus on a wide range of issues, including services exports, standards and branding of products.

India's exports in the last three years have been hovering around $300 billion, and now there is a need to boost it further and enhance its contribution in the world trade.

All exports and import-related activities are governed by the FTP, mainly aimed at enhancing the country's exports and use trade expansion as an effective instrument of economic growth and employment generation.

The Federation of Indian Export Organisation (FIEO) has called for more focus on export of services and hi-tech products in the new policy.

Services sector contributes about 55 per cent to the country's gross domestic product. During May, services exports were about $14 billion.

During April-June period of the current fiscal, exports grew 9.31 per cent to $80.11 billion.

India's exports in 2013-14 were worth $312.35 billion lower than the targeted $325 billion. The country's exports stood at $300.4 billion in 2012-13 and $307 billion in 2011-12.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Regional parties that brought diversity to Indian democracy are at a dead end

    In the two decades, which began in 1989, when the paradigm of coalition politics came to dominate central governments, it would have sounded far-fetch

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Kuruvilla Pandikattu SJ

What we can learn from agnosticism

As an agnostic, the American writer David Breeden is aware ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture