Suresh Prabhu Starts Maiden Day At Commerce Ministry With Focus Export | SupportBiz
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Suresh Prabhu Starts Maiden Day At Commerce Ministry With Focus Export

 
New DelhiI: Suresh Prabhu spent his first day as commerce and industry minister discussing issues related to exports and exporters and asked about India’s bilateral and multilateral trade negotiations, officials in the know said. The former railway minister on Monday saw presentations made by officials of the Department of Commerce and Department of Industrial Policy and Promotion at Udyog Bhawan.

“He talked about export-led manufacturing growth and improving export competitiveness. “He talked about export-led manufacturing growth and improving export competitiveness. He wanted to know about the issues exporters are facing,” said a commerce department official, as reported by the ET. Prabhu has assumed charge of the ministry at a time when India’s exports have been hit due to the rollout of the GST regime. Export growth slowed to an eight-month low of 3.94% in July even as India is facing a burgeoning.

Policy To Facilitate Agri-Export

He said the Commerce Ministry will work on developing a global supply chain for the agriculture sector. "As a minister it's my job to ensure that we develop this global supply chain and ensure farmers get better prices," Prabhu said. "We will start working on that. This is on our agenda. My ministry will make sure that we will achieve this goal to ensure that India's agriculture is also able to feed the global economy," he added.

He also said that multilaterally there is also the need to work on removing trade barriers in order to boost Indian agricultural exports. "We have right to have access to global markets for our farm produce by removing all trade restrictive practices," he said.

The Minister also said the government will work on developing agriculture parks in India.
India and China have, in a joint proposal to the WTO, called for eliminating trade-distorting agricultural subsidies given by developed countries, the Indian Commerce Ministry said last week.

"India and China jointly submitted a proposal to the World Trade Organisation (WTO) calling for the elimination -- by developed countries -- of the most trade-distorting form of farm subsidies known as Aggregate Measurement of Support (AMS), or 'Amber Box' support, as a prerequisite for consideration of other reforms in domestic support negotiations," an official statement here said. "The joint paper reveals that developed countries, including the US, the EU and Canada, have been consistently providing trade-distorting subsidies to their farmers at levels much higher than the ceiling applicable to developing countries," it said.