Steps to boost exports\, startups part of Com Min\'s 100-day prog for new govt

Steps to boost exports, startups part of Com Min's 100-day prog for new govt

Press Trust of India  |  New Delhi 

Measures to boost exports and promote start-ups are part of the 100-day programme prepared by the for the new government, an said.

The new government is expected to assume office by the end of this month.

These proposals would be presented to the new government, the added.

The ministry has proposed to set up a separate logistics department to be headed by a with a view to enhancing growth of the sector, which is fundamental to boost exports, imports and overall economy.

Extensive coordination among different stakeholders of the logistics sector including roads, railways, shipping, civil aviation, and states is required.

Currently, there is a separate wing of logistics, headed by a special in the

It has also proposed a new (WTO)-compliant export incentive scheme for goods shipments to replace the existing MEIS.

At present, exporters of goods avail incentives under the Merchandise Exports from Scheme (MEIS). In this, the government provides and country.

Since 2011-12, India's exports have been hovering at around USD 300 billion. During 2018-19, foreign shipments grew by 9 per cent to USD 331 billion.

Promoting exports helps a country to create jobs, and earn more foreign exchange.

Similarly, the department for promotion of industry and internal trade has prepared a vision document to promote growth of start-ups and steps to further improve ease of doing business to attract both domestic and foreign investments.

During April-December 2018-19, foreign direct investment into dipped by 7 per cent to USD 33.5 billion.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 06 2019. 16:15 IST