Trade and Minister of Industry Piyush falter believe that exports are on track to reach the target of $ 400 billion this year and a series of steps announced in recent months will open the way for stronger growth.
In the interaction, he discussed the global trade strategy.
Quote: have export making definitive recovery? This is a significant recovery.
We will close the first round of around $ 195 billion, which is a significant achievement.
There is a challenge on the front of the logistics, how far do we handle them? The challenge is part of doing business.
Our exporter has done some extraordinary work, even though there are Covid challenges, despite the lack of container facilities and high shipping rates.
The government has tried to provide as much support as possible through a series of steps.
This is a holistic effort of the government, our private sector and diplomat.
Is there a medium or long-term solution, given that we depend on foreign shipping lanes, containers are owned by foreign entities.
Do we need shipping lines and Indian containers who remember that maritime strength has become a global trade force? It would be good to have more ships with Indian flags.
But this is a very competitive business that requires an inner bag.
The equation in maritime countries has now changed.
Mostly, shipping lines are now placed in several European countries and maybe one or two in neighboring countries.
They work on an international framework based on market conditions.
At present, ships take place very long in certain countries, containers are trapped in several countries and some of which have irrational rules around Covid testing.
All of this has caused shortcomings.
Hopefully this is temporary.
In the long run it will be very desirable to have more Indian shipping companies and I will encourage businesses and corporations in India to consider entering this business.
Concor has issued several experimental orders to start manufacturing in India and around 34 companies have expressed interest.
Does the current situation require changes in the planned plan for Concor and Shipping Corporation? Have no connection with the current situation.
This is an international situation that we face, ownership will not have an impact on the effectiveness or ability to serve our international trade.
In the past there were concerns about FTA, how do you ensure that the new is a balanced agreement? We only deal with countries with which we have a fair trade interest.
We see countries where we have not expanded the way we can have.
For example, UAE is one of our biggest trading partners and our company can serve other countries from there.
After Brexit, England has emerged as a very large market for India.
The EU can help us blunt the edge owned by Bangladesh or Vietnam in textiles.
We can fairly work on a series of conditions through a comprehensive agreement, which can help us get investment and technology, expand our markets in these countries and encourage our economy.
Will the situation in China help Indian business and export? We need to focus on strengthening our production capabilities, in making ourselves recognized as a quality producer and focus on quality and productivity.
There seems to be concerns in the government department in the design of consumer protection guidelines for e-commerce …
That is the purpose of public consultation, which includes feedback from all Indian and international players and government institutions.
We still consult with stakeholders and we are looking at international rules about similar things and we will find very strong guidelines that will protect the interests of our small shop owners and ensure the orderly growth of e-commerce sectors.