India Plans to Double Export by 2014
Date: Wednesday , March 02, 2011
On account of increased demands of Indian engineering, chemicals, gems and jewellery, and leather products the country’s exports will almost double to $450 billion by 2014, says Anand Sharma Commerce and Industry Minister. “Our total export is expected to reach $225 billion in the current fiscal and it will touch $450 billion by 2014,” says Sharma, while releasing the draft strategy paper for doubling exports in New Delhi.
“Engineering sector has done considerably well and now it needs to move up the value addition chain for high precision engineering, both for domestic production and exports,” says Sharma. The exports of engineering products would triple to $120 billion by 2015. Sharma states that by 2014 a doubling of exports in textiles, tripling of exports in gems and jewellery and engineering, tripling of exports in electronics goods, doubling agri-exports and tripling our leather sector exports, are expected. The Ministry of Commerce and Industry released a draft of its strategy paper for doubling the export and uploaded it on the Ministry’s website. Sharma said that they are expecting feedbacks from stakeholders and that this is only the first draft of a work in progress.