- Tag results for Suresh Prabhu
The Commerce and Industry Minister said that India is keen to have free trade agreements with Latin America, Africa, Southeast Asia.
Exports need an urgent push, as fall in exports have been of a great concern with raising imports putting pressure on current account and trade deficits.
The idea is to focus on one district at a time and increase its GDP growth by 3-4 percentage points annually
He said that ensuring safety is a responsibility of the Directorate General of Civil Aviation (DGCA) and 'we have already directed them that at any cost, safety has to be paramount'.
Promoting cycle as an important means of transport has multiple benefits for environment, health and economy, the minister noted.
Prabhu's assertion came on a day when reports of a Pratt & Whitney engine of an IndiGo A320 neo plane stopping mid-air surfaced.
Following the Nirav Modi scam, the RBI banned issuance of letter of undertaking due to which there has been a huge decline in bank credit to exporters.
The policy is likely to focus on promoting the domestic gold industry and exports of gems and jewellery, which contribute about 15 per cent to the total merchandise outbound shipments.
Total production of aluminium in India is about four million tonnes and consumption is about 3.6 million tonnes.
The minister said China has agreed to set up industrial parks in India and the Chinese authorities have been asked to give a list of companies that are willing to set up factories in India.
Aluminium is required by industries like automobile, construction, consumer goods etc.
India's exports have been hovering at around USD 300 billion. During 2017-18, the shipments grew by about 10 per cent to USD 303 billion.
Key trade ministers from countries including from India would meet next month on the sidelines of the World Economic Forum Summit at Davos to discuss the road ahead for the WTO.
Earlier in April, the government gave relief to startups by allowing them to avail tax concession if total investment including funding from angel investors does not exceed Rs 10 crore.
The minister said that a memorandum of understanding (MoU) was signed between India and China in May 2013 on cooperation related to import and export trade of fishery products.