Govt. wants to tap the potential of exports to the SAARC Countries |
Govt is taking steps to create right ecosystem for the the Manufacturing industry in order to boost exports and achieve its goal of being 1 Trillion dollars manufacturing economy by 2025. In order to incentivize and encourage Indian manufacturers to compete globally by improving their exports, the Commerce Ministry is working on various fronts like creation of new policies, improving Ease of Doing Business, scrapping irrelevant regulations and formulating the concept of growth of GDP in every district of the country, According to Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu. According to him, India has not realized its full potential of exports and cooperation with neighboring countries like Bangladesh and Sri Lanka and we must strive to work closely with these countries who have managed to become a part of the global value chain in industries like textiles. As the Indian economy continues its growth trajectory and strives to reach 5 trillion US Dollars by 2025, the manufacturing sector is expected to play a key role by contributing 1 trillion US Dollars to the overall target, requiring the sector to grow 2.5 times in next 7 years.
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