Ministries seek Suresh Prabhu’s help to boost exports

New Delhi: The department of defence production has sought the commerce department’s help in boosting defence exports from existing Rs 5,000 crore to Rs 35,000 crore while the ministry of electronics and information technology (Meity) has asked it to formulate a strategy to get electronics companies exiting China to invest in India.

The requests were made on Monday when commerce and industry minister Suresh Prabhu met officials of various ministries to boost exports.

“India is now exporting Rs 5,000 crore of defence products which are small components but the potential is of. Rs 35,000 crore,” said an official present at the inter-ministerial consultation on the implementation of sector-specific strategies to bring about a substantial and sustained increase in the growth of exports.


Prabhu, according to the person quoted abve, told the officials of various ministries that the government will separately focus on services exports.

The department has identified nine sectors – gems and jewellery, leather, textiles, engineering, electronics, chemicals, pharma, agriculture and marine products – to achieve at least 16% growth in exports in FY 19. India’s exports were $303 billion in 2017-18.

The department of chemicals sought faster environmental clearances for agrochemicals and said it wanted to set up a chemical inventory for the purpose of exports.

This was the third meeting in a series of discussions to boost exports.