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Make In India to assume new, higher dimensions promises Commerce & Industry Minister – Nirmala Sitharaman

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MUMBAI: The Indian government will shortly constitute a special committee to recommend ways and means aimed at boosting exports from India, Nirmala Sitharaman, Union Minister Commerce & Industry said here on Saturday evening.
Addressing a gathering of exporters and industrialists at the 3rd edition of the Indian Exporters’ Excellence Awards 2015 ceremony organized by ECGC Ltd. and Dun & Bradstreet, which provides vital support to the country’s foreign trade, the minister disclosed, the government intends to formulate a new policy and framework for providing a strong stimulus to the nation’s export industry. “ The government will talk and listen all segments of the manufacture and exports industry to help us create conditions conductive for raising within short time, the volume of exports from India,” she added.
Sitharaman noted the manufacturing sector in India can grow exponentially if provided with the right conditions, considering its contribution towards the national Gross Domestic Product. “When I say manufacturing in India, both in volume and value, I include our exporters, who even in difficult times have kept their nose above water,” she added. He emphasized, the government led by Prime Minister Narendra Modi remains committed to its manifesto of providing improved facilities to do business easily. Similar measures will also be implemented for the export sector to provide an impetus to the PM’s ‘Make In India’ worldwide campaign.
Claiming the government was working relentlessly towards boosting all sectors of the Indian industry, the minister highlighted that the e-business portal launched by Ministry of Finance offers a wide range of benefits for manufacturers and exporters. A portal that continually educates Indian manufacturers and exporters about demand trends for products worldwide, has also been launched, she added.
Emphasizing that while India made products were competing globally since they meet and exceed internationally accepted standards, exports remain stunted due to unwillingness and restrictions placed by several foreign countries to permit imports from India. Sitharaman cited the examples of exports of Indian medical products, automobile spares, IT software and hardware and textiles as the frontrunners of the Indian export industry currently, adding, this portfolio can be further diversified with the union government providing an exporter friendly business environment.
The Minister later presented ECGC – D&B Indian Exporters’ Excellence Awards 2015 to 33 companies from various fields like overall export performance, innovation, risk management practices, SEZ exports, women entrepreneurs etc. Companies with minimum 10% revenue from exports during FY 2013-14 were eligible for nominations.
Geetha Muralidhar, Executive Director (CMD-addl. Charge), ECGC Ltd. Said “India will be the key source of manufacturing exports ably aided by the government’s “Make in India” initiative. The campaign is designed to make India a manufacturing hub and attract companies to invest and make in India. It will roll out initiative across 25 sectors and across India so that global and domestics manufacturers invest and set up facilities to serve domestic and export market.”
Ranjan Dhawan, MD & CEO of Bank of Baroda during his address to the august crowd brought the key points such as Hedging is one of the key areas exporters need to focus and bring to practice. Secondly his finding about the overall performance of various international destinations and their performance viz a viz India and the opportunity for the Make In India initiative is much loud and clear and easily through the easily accessible options. He also brought the point such as exporters going NPAs, are mainly because of not having adequate data about the companies and organization they are dealing with. Using the D&B database about the global companies and their balance sheets is quite substantial to understand about most of the international clients and their financial status.
Arvind Mehta, joint Secretary, Department of Commerce, ministry of Commerce & Industry pointed the increasing need to focused approach of the export growth and the government is supporting the export community through the ease in doing business.
The award process was evaluated by an independent jury panel consisting of eminent experts from the fields of Commerce & Economics are Sanjeev Nandwani, Development Commissioner for SEZs, and addl. DFGT, for East & North-East region, Addl. Charge as Development Commissioner, SEZs for Andhra and Telengana regions, M. Narendra, Former CMD, Indian Overseas Bank and Abhay Pethe, Chair Professor, Economics Department, Mumbai University.
A total of 33 awards categories covering diverse segments of the Indian manufacture and export trade are given away during the providing opportunity for all types of exporters across the country to compete.
Indian software major TCS bagged the Best Overall Exporter award in the large companies category, while Pune based Serum Institute of India was won the Best Manufacturer Exporter award. On the eve of the International Women’s Day, Nirmala Sitharaman expressed special appreciation for the Bengaluru (Bangalore) based Himatsingka Seide in which women constitute 90% of the employees.
MD & CEO of Bank of Baroda, Ranjan Dhawan, Joint Secretary, Ministry of Commerce & Industry Arvind Mehta, Geetha Muralidhar, CMD of ECGC, key personnel of financial institutions, export houses, industry bodies and corporate attended the event.
The3rd edition of ECGC – Dun & Bradstreet concluded with the vote of thanks by Kaushal Sampat, President & MD – India, Dun & Bradstreet congratulated all the winners and thanked ECGC for partnering for several decades and all the supporters and the export community

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