Free trade agreements, involvement of states, missions to help promote exports: IIPM Director Joshi

Free trade agreements with the UAE, Australia and involvement of states and Indian missions abroad would help promote the country's exports, Indian Institute of Plantation Management (IIPM) Director Rakesh Mohan Joshi said on Wednesday.

He also said at a time when economies of developed countries are facing a slowdown, the Indian economy is registering healthy growth and exports are playing a key role in that.

"In recent years, the country has been actively engaging government and corporate functionaries even at the district level and also foreign missions worldwide for its export promotion strategies, leading to sustainable rise in India's exports," Joshi said.

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Bengaluru-based IIPM, under the commerce ministry, conducts industry need-based capacity building and training programmes for stakeholders of the agri-plantation sector.

He added that India's policy measures and institutional strengthening boosted exports which touched an all-time high of USD 422 billion in 2021-22.

"India is also in the process of actively evaluating its existing Free Trade Agreements (FTAs) and engaging in newer ones to benefit its own economy," Joshi added.

However, he said that to maintain the pace of its growth momentum, India needs to cautiously strike a balance between its monetary tightening policies to curb inflation and its impact on economic activities.

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"In view of ongoing international economic upheavals, the country should consistently monitor the exchange rate fluctuations and ensure timely intervention," he suggested.

India needs to pro-actively pursue structural reforms both in domestic and external finances, procedural simplification, addressing infrastructural and logistics inefficiencies to facilitate exports and investments, he added.