Free trade agreements with the United Arab Emirates, Australia and the involvement of overseas states and Indian delegations will help boost the country’s exports, said Rakesh Mohan Joshi, director of the Indian Institute of Plantation Management (IIPM). said Wednesday.
He also said that at a time when advanced economies are facing a slowdown, India’s economy is registering healthy growth, with exports playing a key role in it.
“In recent years, the country has actively engaged government and corporate functions even at the district level for its export promotion strategy, as well as foreign delegations from around the world, which has led to the growth of India’s exports. has led to a sustained increase in ,” Joshi said.
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The Bengaluru-based IIPM, under the Ministry of Commerce, conducts industry-needs-based capacity building and training programs for stakeholders in the agricultural plantation sector.
He added that policy measures and institutional enhancements in India have boosted exports to reach a record high of US$422 billion in 2021-22.
“India is also in the process of actively evaluating existing free trade agreements (FTAs) and engaging in new ones to benefit its economy,” Joshi added.
However, to maintain growth momentum, India will need to carefully balance tight monetary policy to curb inflation and the impact on economic activity, he said.
“Given the ongoing international economic turmoil, countries should always monitor exchange rate fluctuations and ensure timely intervention,” he suggested.
India needs to aggressively pursue structural reforms in domestic and foreign finances, simplification of procedures, and addressing infrastructure and logistical inefficiencies to boost exports and investment, he added. .