Sunday, September 20 2020

September 4, 2020

India is being seen in the world as trusted and resilient partner

New Delhi – India’s exports as well as imports are showing positive trends said Union Minister of Commerce and Industry Piyush Goyal.

The exports are approaching the last years levels, after making a sharp dip in April this year due to pandemic.Regarding imports, the positive thing is that the Capital Goods imports have not declined, and the reduction in imports has been seen mainly in crude, gold and fertilizers. He added that the trade deficit is reducing drastically and our share in the global trade is improving, thanks to our resilient supply chains, and perseverance and hardwork of our exporters. The minister also said that we are trying to generate more reliable and better trade data so that nation can do better planning and frame policies accordingly.

The Minister said that 24 focus manufacturing sectors have been identified which have the potential to expand, scale-up operations, improve quality, and lead enhancement of Indian share in global trade and value chain. These sectors have capacity to do import substitution and push exports. He said that India is being seen in the world as trusted and resilient partner in global value chain.