New Delhi: Prime Minister Narendra Modi will meet exporters or certain labour-intensive sectors on Monday to discuss measures to enhance the country's competitiveness in the global trade, according to exporters.
Representatives from sectors including apparel, leather, gems and jewellery, handicrafts, engineering, and seafood will participate in the meeting, they said.
Heads of export promotion councils of these sectors would attend the meeting.
The meeting assumes significance as labour intensive sectors are facing challenges due to a steep 50 per cent tariffs imposed by the US on Indian goods, barring few sectors. Tariffs or import duties play a key role in competitiveness of goods and services.
India and the US are negotiating a bilateral trade agreement.
India's share in the global trade is about 2 per cent (1.6 per cent in global goods exports and 3.3 per cent in services).
India's exports grew 6.74 per cent to USD 36.38 billion in September, while imports jumped 16.6 per cent, widening the trade deficit to USD 31.15 billion.
Cumulatively, during April-September this year, exports increased by 3.02 per cent to USD 220.12 billion despite global challenges, while imports rose 4.53 per cent to USD 375.11 billion, leaving a trade deficit of USD 154.99 billion.
Source Name : Economic Times