New initiatives for $5 T economy soon: Suresh Prabhu 

28 April, 2018

 

Speaking at the BSE-organised India Economic Summit in Mumbai,Union commerce minister Suresh Prabhu said that the government is working with countries focussing on technologies and sectors to push India’s growth.

Prabhu said the government is looking to propel India towards a $5-trillion economy in the next few years and it will roll out a number of initiatives to help realise this aim.

The commerce minister said that his ministry has sent a proposal to the Cabinet for investments of Rs. 5,000 crore in 12 champion sectors to push growth.
He said a task force has been constituted that is already working with Japan and other countries to focus on emerging and newer technologies. “We are working with Japan and other countries, which I don’t want to name for now, that are looking at technologies that are not present but would emerge tomorrow,” said Prabhu.
Prabhu said that the country organised a summit of 53 countries to ensure that the World Trade Organisation remains relevant. He said that his department is working on a new Exim policy and has already prepared a new agri- export policy that is not just meant to boost exports but also to increase farm income.
“Once the GDP of districts go up, only then the country’s GDP will also grow. In the initial phase, we are focussing on six districts only, two of which are in Maharashtra to push for agri exports,” he said.

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