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Salient Points of Strategy for Doubling Exports in next Three Years (2011-12 TO 2013-14)

 

THE TARGET

 

The target is to double the country’s merchandise exports in dollar terms over the next three years (2011-12 to 2013-14) from US $ 246 billion in 2010-11 to US$ 500 billion in 2013-14.

 

To realize this, exports have to grow at a compound average growth of 26.7 % per annum.

 

The overall strategy to realize this goal is

Product Strategy

 

1.                   Build on our strength in sectors with great growth potential

·         engineering goods

·         basic chemical industries and organic and inorganic chemical industries

·         pharmaceutical industry (including biotech)

·         electronics

 

2.                  Promote light manufacturing exports with high value  addition

·         leather products and textiles

 

3.                  Encourage high employment generating sectors

·         gems and jewellery

·         agricultural products

 

Market Strategy

           

·         Focus on markets in Asia (including ASEAN), Africa and Latin America. 

·         Open up new vistas, both in terms of markets and new products in these new markets

·         Retain presence and market share in our “old developed country markets”;

·         Move up the value chain in providing products in these old developed country markets

 

Technologies and R&D

 

Areas that hold out promise for high technology exports

 

·         Pharmaceuticals 

·         Electronics

·         Automobiles

·         Computer and software based smart engineering.

·         Environmental products; green technology and high-value engineering products.

·         High end areas in electronics, aerospace, and engineering products.

Building a Brand Image

 

·         thrust for quality upgradation. 

·         expanded certification of export products encouraged, where needed. 

·         Brand India promotion campaign for key export products

 Essential Support

 

Essential policy support needed to realize the ambitious export targets for 2013-14 and beyond is:

 

·         Stable policy environment: Continuation of existing incentive schemes

·         Preferential access to new markets: putting in place conducive trading arrangements

·         Reduction in transaction costs: Implementation of recommendations of Task Force

·         Substantial step up in overall Plan support

·         Priority strengthening of trade related infrastructure

 

 

Strategic sectoral targets for 2013-2014

(Values in US $ billion)

 

Exports

Exports

(2009-10)

Share in total Export

(%)

Exports

(2010-11) (Quick Estimates)

Projected Exports

(2013-14)

Share in total projected Exports

(%)

 

Gems and Jewellery

29.08

16.27

33.54

70.00

14.00

 

Engineering Goods

32.55

18.21

60.15

125.00

25.00

 

Textiles

18.29

10.23

21.02

42.00

8.40

Cotton Yarn Madeups

3.97

5.67

11.50

 

 

 

 

 

Manmade Yarn Madeups

3.61

4.19

9.00

 

 

 

 

 

RMG

10.71

11.16

21.50

 

 

 

 

 

 

Other Textiles

0.96

0.54

1.58

3.00

0.60

Carpets

0.74

1.13

2.00

 

 

 

 

 

Jute Manufacturers

0.22

0.45

1.00

 

 

 

 

 

 

Drugs, Pharma & Fine Chemicals

8.97

5.02

10.32

25.00

5.00

 

Other Basic Chemicals

6.84

3.83

8.62

19.00

3.80

 

Electronic Goods

5.45

3.05

7.38

17.00

3.40

 

Leather & Leather Manufacturers

3.28

1.83

3.68

9.00

1.80

 

Plastic & Linoleum

3.37

1.88

4.59

10.00

2.00

 

Iron Ore

6.03

3.37

4.50

9.00

1.80

 

Mica and Other Ore

2.69

1.50

6.07

9.00

1.80

 

Marine Products

2.10

1.17

2.54

5.00

1.00

 

Agricultural Products

12.62

7.06

16.99

22.00

4.40

 

Petroleum Products

28.19

15.77

42.45

80.00

16.00

 

Miscellaneous

18.33

10.25

22.44

55.00

11.00

 

                                                           Total:

178.75

100.00

245.87

500.00

100.00

                   

 



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