Salient Points of Strategy for Doubling Exports in next Three Years (2011-12 TO 2013-14)
THE TARGET
The target is to double the country’s merchandise exports in dollar terms over the next three years (2011-12 to 2013-14) from US $ 246 billion in 2010-11 to US$ 500 billion in 2013-14.
To realize this, exports have to grow at a compound average growth of 26.7 % per annum.
The overall strategy to realize this goal is
Product Strategy
1. Build on our strength in sectors with great growth potential
- engineering goods
- basic chemical industries and organic and inorganic chemical industries
- pharmaceutical industry (including biotech)
- electronics
2. Promote light manufacturing exports with high value addition
- leather products and textiles
3. Encourage high employment generating sectors
- gems and jewellery
- agricultural products
Market Strategy
- Focus on markets in Asia (including ASEAN), Africa and Latin America.
- Open up new vistas, both in terms of markets and new products in these new markets
- Retain presence and market share in our “old developed country markets”;
- Move up the value chain in providing products in these old developed country markets
Technologies and R&D
Areas that hold out promise for high technology exports
- Pharmaceuticals
- Electronics
- Automobiles
- Computer and software based smart engineering.
- Environmental products; green technology and high-value engineering products.
- High end areas in electronics, aerospace, and engineering products.
Building a Brand Image
- thrust for quality upgradation.
- expanded certification of export products encouraged, where needed.
- Brand India promotion campaign for key export products
Essential Support
Essential policy support needed to realize the ambitious export targets for 2013-14 and beyond is:
- Stable policy environment: Continuation of existing incentive schemes
- Preferential access to new markets: putting in place conducive trading arrangements
- Reduction in transaction costs: Implementation of recommendations of Task Force
- Substantial step up in overall Plan support
- Priority strengthening of trade related infrastructure
Strategic sectoral targets for 2013-2014
(Values in US $ billion)
| Exports | Exports
(2009-10) |
Share in total Export
(%) |
Exports
(2010-11) (Quick Estimates) |
Projected Exports
(2013-14) |
Share in total projected Exports
(%) |
||||
| Gems and Jewellery | 29.08 | 16.27 | 33.54 | 70.00 | 14.00 | ||||
| Engineering Goods | 32.55 | 18.21 | 60.15 | 125.00 | 25.00 | ||||
| Textiles | 18.29 | 10.23 | 21.02 | 42.00 | 8.40 | ||||
| Cotton Yarn Madeups | 3.97 | 5.67 | 11.50 | ||||||
| Manmade Yarn Madeups | 3.61 | 4.19 | 9.00 | ||||||
| RMG | 10.71 | 11.16 | 21.50 | ||||||
| Other Textiles | 0.96 | 0.54 | 1.58 | 3.00 | 0.60 | ||||
| Carpets | 0.74 | 1.13 | 2.00 | ||||||
| Jute Manufacturers | 0.22 | 0.45 | 1.00 | ||||||
| Drugs, Pharma & Fine Chemicals | 8.97 | 5.02 | 10.32 | 25.00 | 5.00 | ||||
| Other Basic Chemicals | 6.84 | 3.83 | 8.62 | 19.00 | 3.80 | ||||
| Electronic Goods | 5.45 | 3.05 | 7.38 | 17.00 | 3.40 | ||||
| Leather & Leather Manufacturers | 3.28 | 1.83 | 3.68 | 9.00 | 1.80 | ||||
| Plastic & Linoleum | 3.37 | 1.88 | 4.59 | 10.00 | 2.00 | ||||
| Iron Ore | 6.03 | 3.37 | 4.50 | 9.00 | 1.80 | ||||
| Mica and Other Ore | 2.69 | 1.50 | 6.07 | 9.00 | 1.80 | ||||
| Marine Products | 2.10 | 1.17 | 2.54 | 5.00 | 1.00 | ||||
| Agricultural Products | 12.62 | 7.06 | 16.99 | 22.00 | 4.40 | ||||
| Petroleum Products | 28.19 | 15.77 | 42.45 | 80.00 | 16.00 | ||||
| Miscellaneous | 18.33 | 10.25 | 22.44 | 55.00 | 11.00 | ||||
| Total: | 178.75 | 100.00 | 245.87 | 500.00 | 100.00 | ||||
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