business-news-export-promotion-councils-chalk-out-strategy-to-meet-targets

In News: Export promotion councils chalk out strategy to meet targets. In line with the Union Commerce Ministry’s target to triple India’s exports from $331 billion to $1 trillion in five years, export promotion councils have chalked out plans to achieve the same.

  • This means almost doubling exports of the sector in the next five years,” said president, Capexil.
  • Capex promotes the shipments of chemical and allied products that contribute more than 7% of India’s total merchandise exports.
  • The export target fixed for Capexil products is $25.57 billion for the year 2019-20, which marks a substantial growth compared to $ 22.24 billion in 2017-18.
  • He said the exports of minerals and ore, which grew 9.39% and non-mineral products, which grew 22.42% compared with 2017-18, were set to grow further.
  • Chemexcil, the export promotion council for basic chemicals, dyes, dye intermediates, agrochemicals, and cosmetics, is wooing overseas buyers to boost exports.
  • Chemexcil said the focus for this year is to grow Export promotion councils in the fields of specialty chemicals, polymers and agrochemicals.
  • Plexconcil, which promoters plastics’ exports, said, “Globally plastics is a $1 trillion economy and this demonstrates the vast potential that the segment holds for the fraternity in the areas of automotive, construction, electronics, healthcare, textiles, and FMCG.
  • India’s plastics exports in 2018-19 were worth $10.89 billion against $8.85 billion in 2017-18, up 24% and this year, it is expected to grow further as efforts were on to boost exports to more than 210 countries.
Read More Articles: Lots of asset monetization in coming months: Kant India And Australia – Development Of The Relations