Inviting the Board to suggest an “actionable agenda” to maximize exports through industry-specific and product-specific measures which could be incorporated in the government's Foreign Trade Policy (FTP).
Shri Kamal Nath indicated that the Annual Supplement to the Foreign Trade Policy 2004-09 was likely to be announced on 30th March. In this context, he indicated that a number of FTP initiatives were being considered this year and his Ministry was in consultation with the Ministry of Finance and other Ministries in this regard.
Shri Kamal Nath in particular sought feedback from the industry on two important suggestions – (a) enlarging the scope of Vishesh Krishi Upaj Yojana to facilitate export of agro-based, processed food items and (b) proposal for devising a new scheme to replace the current Target Plus Scheme which would make it more focussed and effective in achieving the objectives of the FTP, including a suggestion to focus on specific products and specific markets to accelerate export growth.
“These are important not only from the point of view of adding new markets for our exports but also generating substantial new employment opportunities in rural and semi-urban areas”, he said.
“Trade flows are changing, but trade winds are also changing. Therefore, we must focus both on products where quantum jumps in exports are possible and markets with vast untapped potential such as Africa and South America”, Shri Kamal Nath said.
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