NEW DELHI: Former President Pranab Mukherjee recently said exports
should constitute one-third of the Government’s ambitious USD
five-trillion economy aim.
Mukherjee also said the ongoing trade war between the US and China should give Indian exporters a chance to increase volumes.
“One third of that (USD five-trillion economy target) must come from
International Trade. The fight between the two giants (US and China)
does give Indian exporters a ray of hope. But, that will be for a short
while,” the Bharat Ratna said at a Federation of Indian Export
Organisations event.
Mukherjee, however, said the increase in exports from India should come
from the inherent strength of the economy, not from external
circumstances.
The Former Finance Minister said that India had long followed the
policy of import substitution, which was later “correctly” transformed
into that of export promotion. This shift led to higher exports, he
said.
Commenting on Eastern India, Mukherjee said it will have to be the
growth engine of the Country, and called for higher contribution of the
manufacturing sector in the overall GDP. Earlier he had said the
Government’s target of becoming a USD 5-trillion economy by 2024-25 is
possible through prudent fiscal management.
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