|Governor Mukhi addresses seminar on foreign trade, Exim policy|
GUWAHATI, Sept 11 - “In recent years, the Indian market has shown encouraging growth, receiving the attention of leading players in the world with the diverse selection of demands of its wide-ranging platform. India has found a good and notable place in the domain of export-import business and become a significant marketplace for the global traders,” observed Governor Prof Jagdish Mukhi while inaugurating a national seminar on Foreign Trade and Exim Policy at a city hotel today.
During his speech, Prof Mukhi said that micro, small and medium enterprises (MSMEs) is a dominant sector in the industrial scenario of Assam. It contributes maximum employment generation with minimum capital inputs and is a major contributor to the State’s economic growth. The MSME sector has emerged as a dynamic sector of the Indian economy over the last five decades. MSMEs have a large share of jobs, production and exports. The micro, small and medium enterprises occupy a strategic importance in terms of output, exports and employment. MSMEs act as ancillary industries for large-scale industries, providing them with raw materials, vital components and backward linkages. In the light of the Make in India, Startup programme, etc, the MSME sector has assumed tremendous importance, the Governor stated.
Prof Mukhi said that India presently is one of the most important players on the global economic landscape. Its trade policies, reforms and inherent economic strengths have contributed to its standing as one of the most sought-after destinations for foreign investment. The technological and infrastructure developments being carried out throughout the country will augur well for the trade and economic sector in the years to come, Prof Mukhi opined.
The Governor further said that as a result of the Central government’s important deals with several foreign countries, the external sector is increasing its contribution to the economic development of the country and the consequent growth in the global markets. Moreover, following implementation of the Foreign Trade Policy 2015-20, India’s share in world trade is expected to double from the present level by 2020. All export and import-related activities are governed by the Foreign Trade Policy, which aims at enhancing the country’s exports and uses trade expansion as an effective instrument of economic growth and employment generation, he added.