The newly appointed Commerce and Industry Minister Suresh Prabhu has said that as part of his latest take-over, he looks forward to providing impetus to employment generation, Foreign Direct Investment (FDI), Startup India, Make in India, ease of doing business, and logistics.
He said his priorities will include backing measures to generate more jobs, particularly in the manufacturing sector, helping India attract more Foreign Direct Investments (FDI), and increasing India’s share in global exports.
“We will accelerate the pace of MII, Startup India and Ease of Doing Business initiatives. We will take measures to generate more employment in manufacturing and other economic activities,” he said.
“We will increase the share of exports in India’s GDP and India’s share in global exports. We will look for new markets, in addition to finding niche areas in developed country markets,” he added.
Look forward to providing impetus to #EmploymentGeneration, #FDI,#StartUpIndia,#MakeInIndia,#EaseOfDoingBusiness,#Logistics among others
— Suresh Prabhu (@sureshpprabhu) September 4, 2017
Prabhu’s appointment comes at a time when India is readying its “future ready” Industrial Policy. Ministry of Commerce and Industry had recently initiated the formulation process of the much awaited policy with one eye on micro, small and medium enterprises (MSMEs) sector. The new policy is likely to be announced in October according to a government statement on August 29.
His experience as Railways Minister is likely to be of help as the Department of Commerce is scheduled to be the nodal body at the central level for transport-related issues across modes with a view to boost India’s foreign trade.
First Review meeting by @CimGOI Minister Shri. @sureshpprabhu and MoS Shri. @crchaudharymos with @DoC_GoI Officers. pic.twitter.com/g9IXiUnWOR
— DoC (@DoC_GoI) September 4, 2017
