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

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)