Sharma to meet industry leaders Tuesday on exports slowdown

Sharma to meet industry leaders Tuesday on exports slowdown New Delhi: Commerce and Industry Minister Anand Sharma is scheduled to meet industry leaders on Tuesday for discussing ways to contain decline in the country's exports.

Hit by slowdown in the Western markets, India's export growth declined 5.45 percent in June for the second month in a row to USD 25 billion.

The minister has also called a meeting on August 16 on declining industrial production.

Worsening economic situation has pulled down the index of industrial production (IIP) by 1.8 percent in June, third fall in four months.

"The minister has called a meeting of Assocham, CII and Ficci Tuesday on exports slowdown and on August 16, they will discuss IIP numbers," an official said.

In July last year, the minister had set up a joint task force, which includes industry leaders and government officials. The task force focuses on boosting the manufacturing sector's growth.

Ficci Secretary General Rajiv Kumar said they would deliberate on several issues like increasing competitiveness of Indian products in the global market.

"India's share in the global market is less than 2 percent. There is a need to increase this and for that we have to increase competitiveness of our products," Kumar said.

PTI