India becomes a market place for global traders: Assam Governor

National seminar on Foreign Trade and EXIM Policy

GUWAHATI: “In the recent years, the Indian market is showing encouraging growth by receiving the attention of leading players of international 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 has become a significant marketplace for the global traders.” observed Assam Governor Prof. Jagdish Mukhi while inaugurating a national seminar on Foreign Trade and EXIM Policy held at Hotel Taj Vivanta here on Wednesday.

Speaking on the occasion, Prof. Mukhi said that micro, small and medium enterprises (MSME) 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. MSME have a large share of jobs, production and exports. The Micro, Small and Medium Enterprises occupies 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 presence of Make in India, Start-up programme etc., MSME sector has assumed tremendous importance, the Governor added.

Prof. Mukhi also said that India is presently known as one of the most important players in the global economic landscape. Its trade policies, government reforms and inherent economic strengths have attributed to its standing as one of the most sought-after destinations of foreign investments in the world. Also, technological and infrastructural developments being carried out throughout the country will augur well for the trade and economic sector in the years to come, Prof. Mukhi retorted.

The Governor further added that as a result of central government’s important deals with the 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, by implementing the Foreign Trade Policy 2015-20, by 2020, India’s share in world trade is expected to double from the present level. All export and import-related activities are governed by the Foreign Trade Policy (FTP), which aims at enhancing the country’s exports and use trade expansion as an effective instrument of economic growth and employment generation.

Hailing, Prime Minister Narendra Modi, Prof.Mukhi said that India is moving forward under the visionary leadership of the Prime Minister who has enunciated Act East Policy which entails increased people to people, trade and other relations with countries on India’s east particularly ASEAN countries.

Principal Director, PHD Chamber Dr. Ranjeet Mehta, Director, MSME- DI, Guwahati Mr. M. Sreenivasulu, Renowned Media Political Commentator on Govt. of India Issues & Foreign Policy and Economic Issues Dr. S. K. Dutta along with a host of other dignitaries were present in the inaugural function.

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