India’s strategy to double trade with USA

- Advertisement -

The Department of Commerce has prepared a strategy paper for doubling India’s merchandise exports over the period 2011-12 to 2013-14 from US $ 246 billion in 2010-11 to US $ 500 billion in 2013-14.

An aggressive product promotion strategy for high value items that have a strong manufacturing base is the main focus of the overall growth strategy. The core of the market strategy is to retain presence and market share in traditional markets, move up the value chain in providing export products in the developed country markets; and open up new vistas, both in terms of markets and new products in these new markets. In the area of technology upgradation and R&D, the sectors of focus are pharmaceuticals, electronics, automobiles, computer and software based smart engineering, environmental products etc. Department of Commerce is working with the relevant stakeholders to effectively implement the strategy.

Department of Commerce in its annual supplement to Foreign Trade Policy on 13.10.2011 announced certain sector specific and country specific measures under the schemes such as Special Bonus Benefit Scheme, Special Focus Market Scheme, Focus Product Scheme and Market Linked Focus Product Scheme. ‘Niryat Bandhu’ Scheme for international business mentoring to boost exports has also been introduced.

- Advertisement -

It is a constant endeavour of the government to enhance trade with our trade partners for mutual benefit. In this context, India has been taking various initiatives like Comprehensive Economic Cooperation Agreements (CECA), Free Trade Agreements (FTA), Preferential Trade Agreements (PTA) etc. with different countries.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

SEZ: 100% WFH Facility Extended till Dec 2023

0
The union commerce ministry said that IT/ITeS units in special economic zones can allow 100 per cent of their workforce to work from...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

Exclusive

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

My Dream Is To See India As A Top Electronics Product Nation

0
Hailing from a highly educated, partition-affected family with a rich musical and cultural lineage, being a pioneer of the computer revolution in India, Ajai...

Important Sectors

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

Foxconn injects $500M in Indian unit

0
The Singapore subsidiary has invested in the Indian unit amid challenges with China’s zero-Covid stance. Apple Inc.’s Taiwan-based partner, Foxconn announced on Thursday that its...

Optoma Launches Eco-Friendly Laser Projectors

0
Laced with the latest laser technology and higher power conversion efficiency: Optoma A 34% reduction in size as compared to the previous generation...

36 Volvo Electric Trucks Ordered by Australia

0
Placed by Team Global Express, these trucks will hit the streets of Sydney in 1Q23. This is Volvo’s largest electric truck order to date...

Manufacturing

Foxconn injects $500M in Indian unit

0
The Singapore subsidiary has invested in the Indian unit amid challenges with China’s zero-Covid stance. Apple Inc.’s Taiwan-based partner, Foxconn announced on Thursday that its...

ESDM-Hub in the Making: EPIC Partners With Odisha

0
The proposed initial product line for the collaboration will include manufacturing an Indian tablet PC with global quality Underprivileged people of the state...

SiC Substrate Manufacturing Tech: ST Set to Cooperate With Soitec

0
Soitec technology adopted by STMicroelectronics for future 200mm Silicon Carbide substrate production Global semiconductor giant, STMicroelectronics and Soitec, a leading semiconductor materials manufacturer, recently announced...

Luxoft Expands Presence in India with Opening of New Chennai Office

0
The new site will extend Luxoft’s ability to understand, develop, and seamlessly deliver tailor-made, end-to-end software solutions to clients in Chennai and across the...

Veira Group Set to Manufacture webOS Hub 2.0 Smart TVs

0
Veira—a strategic ODM India partner for the OS—aims to manufacture over a lakh webOS Smart TVs for leading Indian brands webOS Hub is...