New Delhi: A Commerce Ministry panel will discuss ways to arrest decline in exports, which are in the negative zone since December last year, in Goa on November 6.
The meeting of the Consultative Committee of the Ministry of Commerce will be chaired by Commerce and Industry Minister Nirmala Sitharaman.
The Director General of Foreign Trade will give a presentation on the foreign trade policy to the committee, which comprises 11 Members of Lok Sabha, and seven Members of Rajya Sabha.
"The continuous dip in exports will be discussed besides ways to boost the country's exports. Senior officials of the ministry will also attend the meeting," an official said. Ministers of State for Parliamentary Affairs Rajiv Pratap Rudy and Mukhtar Abbas Naqvi are ex-officio members of the committee.
Declining for the 10th month in a row, the merchandise exports dipped 24.33 per cent in September to USD 21.84 billion, mainly due to steep fall in shipments of petroleum products, iron ore, and engineering goods amid tepid global demand.
Federation of Indian Export Organisations (FIEO) has said that the decline of 17.6 per cent in first six months of the fiscal will put enormous pressure even in realising the export figure, which India achieved in 2014-15.
In that fiscal, India's exports were aggregated at USD 310.5 billion. Recently the commerce ministry has given additional incentives of Rs 3,000 crore to several products, including textiles and electronics to boost exports.
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