Union Minister of State for Commerce and Industry, Anupriya Patel, recently conferred awards to top-performing exporters from the Western Region of India. The awards ceremony was organized by the Federation of Indian Export Organisations (FIEO) to recognize the best performing exporters from the region.
During the ceremony, Patel urged exporters to focus on untapped potential in every district to diversify the export basket. She emphasized the importance of the slogan “Vocal for local and local goes global,” which encourages the promotion of locally made products on the global stage.
Patel stressed the need for creativity and innovation in exports and encouraged exporters to invest more in research. She congratulated the top performers and expressed hope that they would continue to contribute towards the target of reaching one trillion dollars of merchandise and service exports each by 2030.
India has been focusing on promoting exports as a key driver of economic growth. In recent years, the government has taken several initiatives to boost exports, including the introduction of schemes such as the Merchandise Exports from India Scheme (MEIS) and the Service Exports from India Scheme (SEIS).
The Western Region of India, which includes the states of Maharashtra, Gujarat, and Goa, has been a key contributor to India’s export growth. The region is known for its manufacturing prowess and has a strong presence in sectors such as chemicals, textiles, and engineering.
The awards ceremony serves as a recognition of the contribution made by exporters from the region towards India’s export growth. It also serves as a reminder of the need to continue to promote exports as a key driver of economic growth.
In conclusion, the awards ceremony organized by the Federation of Indian Export Organisations to recognize the top-performing exporters from the Western Region of India is an important recognition of the contribution made by these exporters towards India’s export growth. Union Minister of State for Commerce and Industry, Anupriya Patel, emphasized the need for exporters to focus on untapped potential and diversify the export basket. She also stressed the importance of creativity and innovation in exports and encouraged exporters to invest more in research. By recognizing and encouraging the efforts of exporters, India can continue to promote exports as a key driver of economic growth.
India’s economy is heavily dependent on exports, with merchandise exports accounting for around 11% of the country’s GDP. In recent years, India has been focusing on promoting exports as a key driver of economic growth, with the aim of increasing exports to one trillion dollars by 2030.
The government has taken several initiatives to boost exports, such as simplifying export procedures, reducing logistics costs, and providing incentives to exporters. The introduction of the Goods and Services Tax (GST) has also helped to streamline the taxation system and make exports more competitive.
India’s exports have been growing steadily in recent years, with merchandise exports reaching a record high of $330 billion in 2019-20. However, the outbreak of the COVID-19 pandemic in 2020 had a significant impact on India’s exports, which declined by 7.26% to $290 billion in 2020-21.
As the country recovers from the pandemic, the government is focusing on reviving exports as a key driver of economic growth. The recognition and encouragement of top-performing exporters is an important step in this direction.
The awards ceremony organized by the Federation of Indian Export Organisations serves as a platform to recognize the efforts of exporters from the Western Region of India. The recognition of their contribution towards India’s export growth will not only motivate them to continue their efforts but also inspire others to follow suit.
Furthermore, the encouragement of creativity and innovation in exports is an important step towards diversifying the export basket and increasing the competitiveness of Indian exports in the global market. With a renewed focus on exports, India can continue to drive economic growth and create job opportunities in the country.
