Prime Minister Narendra Modi will meet heads of Indian Missions abroad together with stakeholders of trade and commerce today to grow export potential and improve India’s share in global trade, an official statement stated. The statement added that exports have a considerable employment generation potential, notably for MSMEs and labour-intensive sectors, with a flow on the manufacturing industry and the overall economy.

“The meet is to present an approach to support and expand India’s export share in global trade. This meeting intends to energise all stakeholders towards expanding our export potential and using the local capabilities to fulfil the global demand,” the statement said. The commerce minister and the external affairs minister will also be present in the interaction. Secretaries of more than 20 departments, state government officials, members of Export Promotion Councils and Chambers of Commerce will also participate.

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The interaction is essential as the commerce ministry has set an export target of $400 billion for the current fiscal. India’s exports rose by 47.19 per cent to $35.17 billion in July due to shipments of petroleum, engineering, and gems and jewellery. Exports in April-July grew by 73.86 per cent to $130.56 billion.