Prabhu urges states and UTs to tap global value and supply chain by promoting export of services

Prabhu urges states and UTs to tap global value and supply chain by promoting export of services

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Prabhu urges states and UTs to tap global value and supply chain by promoting export of services

New Delhi, Jan 11 (KNN) Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu, called upon the States/ Union Territories (UTs) to explore all possible ways of tapping into the global value and supply chain by promoting the export of services.

He was speaking at the 4th meeting of the Council for Trade Development and Promotion (CTDP) in New Delhi.

Speaking at the meeting he added that the step of promoting the export of services and full utilization of all the schemes and programmes of the Government of India will not only add to the GDP of the country but will also create greater employment.

The Minister said that all States/ UTs must formulate an export strategy which is state specific and product specific and improve logistics and infrastructure in their region as well.

Also, States/UTs must use the benefits given by the Central Government for specific sectors like leather where Rs. 2600 crore was sanctioned by the Cabinet for the development of leather and footwear industry, he said.

The Commerce Minister informed the Council that the Ministry of Commerce and Industry in collaboration with the World Bank conducts an annual reform exercise for all States/ UTs under the Business Reform Action Plan (BRAP) to improve delivery of various Central Government regulatory functions and services in an efficient, effective and transparent manner.

This exercise will now be undertaken at the district level in close collaboration with States/ UTs.

Prabhu informed the Council regarding efforts being made by the Central Government in preparing a development plan for each and every district so that growth is led from the district upwards which will be a game changer in taking India’s GDP to USD 5 trillion in 2025.

He urged the States/ UTs to make use of the 5000 crore allotted for 12 champion services sector which will lead to the creation of jobs in the services sector like information technology & information technology enabled services (IT & ITeS), accounting and finance services, communication services, financial services and education services.

The Commerce Minister said that every State/ UTs of India has the potential for getting Geographical Indication tag for many products of that area.

The Minister of State of Commerce & Industry, C. R. Chaudhary, urged the States/UTs to take full advantage of the Trade Infrastructure for Exports Scheme (TIES) to improve export competitiveness.

Chaudhary also said that for North-Eastern States matching support of equal to or more will be provided by the Central Government under TIES.

The Council for Trade Development and Promotion provides a platform to the States/UTs to articulate their expectations and also focuses on the need for all States/UTs to create suitable infrastructure in their regions which will help in developing competitiveness in their exports.

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