PM to meet exporters; to discuss ways to increase India's competitiveness in global trade

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.

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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 percent 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 percent (1.6 percent in global goods exports and 3.3 percent in services).

India's exports grew 6.74 per cent to USD 36.38 billion in September, while imports jumped 16.6 percent, 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 percent to USD 375.11 billion, leaving a trade deficit of USD 154.99 billion.

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