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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