HOME > MARKETS > ECONOMY NEWS
  ECONOMY NEWS
ECONOMY
CII identifies 37 items with high export potential to boost India's global share
Jul-22-2019

The Confederation of Indian Industry (CII) in its the research paper, ‘Indian Exports: The Next Trajectory-  Mapping Products and Destinations’ has said that for India,  there is need to speedily boost a variety of exports ranging from women’s apparel, drugs and furniture to cyclic hydrocarbons, at a time when global trade growth continues to shrink.

CII in its research paper has identified 37 crucial items having the high potential to boost outbound trade, given that these have some export competitiveness and figure significantly in the imports of major importing nations such as the United States and China. The top-37 products from a range of sectors, including apparel, organic chemicals, machinery and mechanical appliances, pharmaceuticals and others have been identified.

India’s overall export share in total global imports of $17,958 billion stands at a mere 1.65%. It also suggested a double-pronged approach of expanding domestic production and undertaking targeted promotion in top importing nations to build exports in these items. It maps India’s current export profile for determining its export competitiveness to these top importing nations.

Besides, it said that India is facing headwinds from the ongoing global trade conflicts at a time when some other countries are capitalising on changing supply chains and the country must step up its export strategy to compete. India’s exports fell by 1.7% in the first quarter of current financial year (Q1FY20) to $81 billion due to an uncertain global trade climate. In FY19, exports had expanded by 8.8% to cross $330 billion.

  RELATED NEWS >>