The commerce and industry ministry in its meeting with representatives of industry chambers on January 7 will take up the issues related to manufacturing sector and improving ease of doing business. The meeting assumes significance against the backdrop of declining exports and contraction in the core sector industries.
The meeting will be chaired by Commerce and Industry Minister Nirmala Sitharaman. Representatives from industry bodies including CII and Ficci will attend the meet. Further in the meeting, there will be presentations on Make in India, Start-Up India and Ease of Doing business. After the presentations, issues related to these areas will be discussed between the ministry and industry chambers.
Contracting for twelve months in a row, India’s exports plunged 24 percent in November to $20 million. The significant fall in exports is attributed to weak global demand, amid a tepid global economic recovery. Similarly, in its worst performance in seven months, output of the eight core sectors contracted by 1.3 per cent in November from the year-ago period on account of a sharp drop in steel, cement and crude oil production.