January 5, 2017 5:11 PM

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Centre asks States to diversify country's exports basket to reduce impact of global economic slowdown

Centre has asked the States to diversify the country's exports basket by enabling more sectors and reaching new markets to reduce the impact of global economic slowdown. <br/><br/>Briefing reporters after the 2nd meeting of the Council for Trade Development and Promotion, Commerce and Industry Minister Nirmala Sitharaman drew attention of States towards promoting services exports where the country has a substantial trade surplus. <br/><br/>She mentioned that India needs to diversify the export basket on services, beyond IT and Information Technology enabled services, to encompass yoga, health, tourism, education and in other areas. The Minister also exhorted the members of the Council to jointly address impediments in trade and infrastructure gaps which adversely affect India's exports. <br/>''''<br/>Ms Sitharaman requested the States to consider organizing bi-monthly meetings with the exporters in their States to sort out their infrastructure and tax related issues. The Minister also requested the States to enhance their co-operation with Central Agencies for setting up common facilities like testing labs, training institutes as well as packaging and storage support to industry.

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