EXPORT PROMOTION BODIES CONFIDENT OF ACHIEVING HIGHER EXPORT GROWTH
THIS YEAR
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.
