The Government aims to double its exports to $500 billion in 2013-14 from $251 billion in 2010-11 with focus on product, market strategies, technologies and research and development. In a written reply in the Rajya Sabha today, Minister of State for Commerce and Industry Jyotiraditya Scindia said the Government reviewed performance of export sectors at regular intervals and took remedial measures for providing incentives whenever needed to boost exports. He said that the export growth was 40.5 per cent and 21.3 per cent during these two years.The trade deficit during 2011-12 was 10.3 per cent GDP and the current account deficit was 4.2 per cent of the GDP.The Minister added that incentives were provided in the form of duty credit scrip under Foreign Trade Policy schemes and these were in public domain.On the measures taken to boost exports, Scindia said the Government in its policy adopted in June had focused its thrust on employment intensive industry recognising its contribution to economic growth and employment generation.It would promote technological upgrade of exports to retain competitive edge in global markets and persist with strong market diversification strategy to hedge risks against global uncertainty.
News On AIR | August 8, 2012 4:51 PM
Govt set to double exports