Export sector – scope for improvement

Today, when I see the export statistics, I feel that we have to look into not only increasing the foreign exchange reserves but also generation of employment and creation of newer markets. Even the government has understood these vital facts and is now focusing on strengthening the employment intensive export sectors.

The export sector accounts for not less than 16 million jobs and has the potential to double in the next couple of years.

The export sector is largely run by an unorganized, informal workforce. This has been a concern to many owing to the fact that the labour laws in the country are outdated and need reforms. The government needs to carefully study and take immediate action.

I feel we need to put in more time and energy in the various employment intensive sectors like leather, handlooms, handicrafts, agriculture, and gems & jewellery. Moreover, the export promotion councils will have to work closely with their respective ministries in a bid to incorporate export promotion schemes with employment generation schemes under the Swarnajayanti Gramin Swarojgar Yojna (SGSY) and Swarna Jayanti Shahari Rojgar Yojna (SGSRY). These schemes, if utilized wisely, can generate huge profits.

We also have to give more attention to product development, designing and marketing which will then help us to capture more markets globally. Perhaps all will agree with me that the mantra to a profitable business venture is a good and extensive marketing programme. If we take these points into consideration and act upon them, India’s exim community can do even better and give the other nations a run for their money.