EXPORT PROMOTION BODIES CONFIDENT OF ACHIEVING HIGHER EXPORT GROWTH THIS YEAR
Date : 10 Jun 2002
Location : New Delhi
Export promotion bodies including all Export Promotion Councils (EPCs) and Commodity Boards are confident of achieving a higher export growth during the current financial year 2002-03 compared to the last fiscal when the country’s export performance was adversely affected due to the global economic slowdown and lower unit value realisation on account of fall in international prices in many sectors. At a meeting on "Export Target and Strategies for the year 2002-03" with export promotion bodies held here today under the chairmanship of Shri Dipak Chatterjee, Commerce Secretary, chairpersons of the various Councils and Commodity Boards gave feedback on the actual performance in their respective sectors during the last financial year, export trends during the current year so far as well as the strategies devised by them for achieving higher growth during 2002-03. They emphasised in particular the initiatives being taken to intensify market promotion efforts in the key areas and to achieve diversification of both markets and products in order to face the challenge of growing competition in the overseas markets. Specific product related strategies have been worked out by many Councils and Commodity Boards focussing on identified markets especially Latin America, Africa and CIS, besides the US. Shri Chatterjee underlined the need for giving the highest priority to quality aspects in order to achieve higher unit value realisation in exports.
Export promotion bodies participating in the discussions included the Engineering Export Promotion Council (EEPC); Basic Chemicals, Pharmaceuticals & Cosmetics EPC (CHEMEXCIL); Gems & Jewellery EPC; Agricultural & Processed Food Products Export Development Authority (APEDA); Marine Products Export Development Authority (MPEDA); Electronics & Computer Software EPC (ESC); Chemicals & Allied Products EPC (CAPEXIL); Council for Leather Exports (CLE); Cashew & Shellac EPCs; Tea Board; Coffee Board; Rubber Board; Tobacco Board; and Coir Board, while the textile sector was represented by the Export Promotion Councils for Apparels, Cotton Textiles, Carpets, Wool & Woollens, Synthetics & Rayons, Handicrafts, Handlooms and Powerloom Development. The meeting was also attended by senior representatives of MMTC, STC, PEC, Overseas Construction Council of India (OCCI) and India Trade Promotion Organisation (ITPO). Shri N. L. Lakhanpal, Secretary & DGFT; Shri L.V. Saptharishi, Shri S.N. Menon, and Shri Vinay Bansal, Additional Secretaries in the Ministry of Commerce & Industry also attended the meeting. The export target for the current financial year 2002-03 will be finalised on the basis of the feedbacks on the trends and strategies received from the export promotion bodies at today’s interaction.
India’s exports during the last financial year 2001-02 were valued at US $ 43.9 billion which was 0.08% lower than the level of US $ 44 billion during the previous financial year 2000-01. However, exports have shown a recovery during the current year with the April 2002 data showing an export growth of 18.17% in US dollar terms.