Country's goods, services exports to cross 500 billion dollars during current fiscal: Suresh Prabhu

The country's goods and services exports will cross 500 billion dollars during the current fiscal despite challenges being faced on the global trade front. This was stated by the Commerce and Industry Minister Suresh Prabhu while speaking at the Rising India Summit 2019 in New Delhi yesterday. Mr Prabhu said that exports are recording healthy growth so far and this fiscal will record the highest-ever growth rate.  He said the ministry is working on identifying new products and new marke...

Country's gold policy to be launched soon: Suresh Prabhu

Union Minister of Commerce and Industry Suresh Prabhu has said that country's gold policy will be launched soon and the ministry is pursuing Niti Ayog and consulting stake holders for it.  He was speaking at the launch of the Domestic Council for Gems and Jewellery in Mumbai on Tuesday.  He said that Indians are the biggest consumers of gold due to their various cultural activities.  He assured that the council will help to boost the economic growth, generate employment opportunities.  ...

Prabhu inaugurates 10th edition of India Rubber Expo 2019

India's exports performance extremely good: Suresh Prabhu

India is preparing a specific strategy for exports to each geography to ensure that outward shipments become driving force for the country's overall economic growth in 2019, Commerce and Industry Minister Suresh Prabhu has said. In an interview to a news agency, the minister said India's exports performance has been "extremely good" in the past 14 months, but he was not fully satisfied as yet and the plans for 2019 also include a special focus on boosting ship...

Union Minister Suresh Prabhu confers Skoch Golden Jubilee Challenger Award at the 55th Skoch Summit in New Delhi

India will become five-trillion-dollar economy in 7-8 years: Prabhu

Minister for Commerce and Industry Suresh Prabhu said, with economic reforms, India will become a five-trillion-dollar economy in seven-eight years.  Mr Prabhu was speaking at the India-Turkey Business Forum in New Delhi on Tuesday.   The Minister said, Government has identified 12 champion sectors to promote exports.  Mr Prabhu who is also Minister for Civil Aviation, said, aviation sector of India is growing at 20 per cent and it is fastest growing aviation sector anywhere in the world.  The G...

Commerce Minister Suresh Prabhu says innovations alone can solve future agricultural problems likely to arise in country

Commerce Minister Suresh Prabhu today said innovations alone can solve future agricultural problems likely to arise in the country. The present challenge is how to minimise the colossal losses in farm production.  Opening a conference of start-ups in the agricultural sector, he noted that innovations have largely reduced poverty in India.   This is the way to address the future challenges as well.  Mr. Prabhu said top soil has to be made fertile once again.  It has suffered from climatic changes...

Prabhu announces setting up of fast track mechanism to promote Russian investments in India

Minister of Commerce and Industry, Suresh Prabhu today announced the setting up of a fast track, single-window mechanism to promote Russian investments in India. The Minister was addressing the India - Russia Business Summit organized by the Department of Industrial Policy and Promotion (DIPP), Invest India and Confederation of Indian Industry (CII) in New Delhi.  Mr Prabhu said that the new mechanism will be helmed by Secretary of DIPP, Ministry of Commerce and Industry. He said there is an opp...

Prabhu chairs meeting on issue of trade deficit, ways to boost exports

Minister of Commerce and Industry, Suresh Prabhu today chaired an inter-ministerial meeting on the issue of trade deficit and its impact on rupee as well as ways to boost exports. The meeting was attended by Secretaries of 16 Ministries and concerned departments of the government in New Delhi.  Discussions were held on the steps to be taken to ramp up domestic production across key sectors through better capacity utilization and capacity creation to promote economic growth. An official release s...

Suresh Prabhu launches digital initiatives for ease of exports

Commerce and Industry Minister Suresh Prabhu today launched digital initiatives for ease of exports. Speaking on the occasion in New Delhi, Mr Prabhu said, this is a major step towards digital India in export trade ushering in efficient assessment, quality monitoring and traceability.  Under the digital initiatives for ease of export, the Minister launched three integrated digital portals, namely Safe Food Export Traceability Portal, One Laboratory One Assessment Portal and Monitoring Export Ale...