After boosting manufacturing, India will focus on rapidly expanding exports. MSMEs are urged to improve quality, reduce costs, and increase scale to leverage market access from new free trade agreements, said an official from the Dept of Commerce.
India's Next Focus: Boosting Exports
India's focus after strengthening its manufacturing capacity will be on rapidly expanding exports, with MSMEs needing to improve quality, reduce costs and increase scale to take advantage of wider market access under recent trade agreements, Yashvir Singh, Additional Secretary, Department of Commerce, said on Thursday.
Speaking to ANI on the sidelines of the 3rd edition of the CII Manufacturing Conclave, Singh said the government was working on industrial corridors, connectivity and other infrastructure to support manufacturing, but the next priority was to ensure that higher production translates into stronger exports.
"After manufacturing, our next focus is on exports. The better we do manufacturing, on the right routes, and produce good quality products, then, without any doubt or hesitation, our exports will increase very rapidly," Singh said.
He said the government was developing a national corridor and industrial hubs and estates, while improving connectivity with ports, roads and sea routes to help move manufactured products to markets.
"These things are being emphasised, so that the manufacturing that has been increased here, how to take it out, how to take the products out," Singh said.
MSMEs Urged to Enhance Competitiveness
On the role of micro, small and medium enterprises (MSMEs), Singh said the market access secured through India's free trade agreements (FTAs) with the European Union and the UK provides opportunities across sectors, including those where MSMEs have a strong presence.
Singh said MSMEs would have to improve their competitiveness to make use of the new opportunities.
"So, you have to improve your quality, reduce your price, and increase your scale. This is the basic mantra of MSMEs," he said.
Strengthening Supply Chains with PM GatiShakti
At the CII Manufacturing Conclave, Rajeev Singh Thakur, Programme Director, NITI Aayog, also called on industry to make greater use of the PM GatiShakti National Master Plan to strengthen manufacturing competitiveness and build more efficient supply chains.
The platform has nearly 1,600 GIS-based layers covering railways, roads, ports, airports and waterways, and can help businesses plan industrial locations, logistics networks and supply chains, Thakur said.
Conclave Report on Strategic Sectors
The conclave also released a report, Champions & Challengers: A Trade Competitiveness Assessment of India's Strategic Manufacturing Sectors, covering bearings, hearables and wearables, tyres, titanium and footwear.
The report identifies areas where India has developed competitive capabilities and gaps that need to be addressed to strengthen its manufacturing base. (ANI)
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