SHARE OF MANUFACTURED GOODS IN INDIA’S EXPORTS RISES TO 70%: KAMAL NATH STRATEGIES TO FURTHER BOOST MANUFACTURED GOODS EXPORTS ON THE ANVIL
Date : 23 Aug 2005
Location : New Delhi
The share of manufactured goods in India’s exports has increased to more than 70% in the last three years, Shri Kamal Nath, Union Minister of Commerce & Industry, said in reply to a question in the Lok Sabha today. The overall export of manufactured goods covering broad categories such as textiles, gems & jewellery, engineering, chemicals, leather etc. (but excluding petroleum products) registered a growth of 20% during 2004-05 compared to the previous year.
Shri Kamal Nath further said that the government had initiated action to further augment export of manufactured goods which would result in significant value addition. “The strategies formulated to encourage manufacturing activities include technological and infrastructural upgradation, correction of inverted duty structure and ensuring that domestic industry is not disadvantaged in the Free Trade Agreements/Regional Trade Agreements. Schemes of the government such as the Technology Upgradation Fund Scheme (TUFS) for modernisation of the Textile and Jute industries, the Industrial Infrastructure Upgradation Scheme (IIUS), the Integrated Leather Development Scheme (ILDS), etc. are already in operation to further augment export of manufactured goods”, the Minister said.
According to DGCI&S data, the percentage growth in 2004-05 over 2003-04 in exports of some of the major manufactured goods from India were as follows: textiles including handicrafts and carpets (16.3%); gems & jewellery (17.3%); engineering goods (20.7%); chemical & related products (16%); and leather & manufactures (2.9%).