10 missions on anvil to boost exports’

10 missions on anvil to boost exports’

What has happened?

The Union Cabinet is likely to approve 10 new market development missions to aid exports, Union Minister for Commerce & Industry and Civil Aviation Suresh Prabhu said on Thursday.

Imports outpacing exports: a matter of concern

• Exports are growing this year because the base has been low for the past three to four years
• So though exports are growing, still it is underperformance considering that the world economy is growing

Champion Services

• The Centre has identified 12 services as ‘champion services’ and the Cabinet has approved Rs. 5,000 crore for promoting them
• Action plan for each of these sectors has been prepared which will promote the services domestically and globally e.g. medical tourism and aviation.

Development of Clusters

Work is also on to identify clusters which are traditionally known for exports of certain products around coastal areas so that exports can happen faster

Agricultural Hubs

• We are also identifying agricultural exports as a major thrust area
• Plans to create air hubs to evacuate agri products faster