Amid fears of a global trade war after protectionism measures imposed by the US, Commerce and Industry Minister Suresh Prabhu has said that India needs to explore ways to improve exports. He also noted that the world is facing serious challenges with the US taking very strong measures against all its major trading partners including China.
Besides, Prabhu said ‘if any country takes a unilateral action, we will definitely take note of it and we will deal with it appropriately’. He also said that India is a firm believer in a rule-based, transparent and participatory trading system and recently it has invited key World Trade Organization (WTO) member countries to discuss ways to reinvigorate the global trading body.
The Minister further urged all to take initiatives to promote exports, in line with the government’s focus on promoting shipments. He also said that they are trying to explore new markets and products by doing market research. He added that India is also meeting leaders of some African countries to promote exports in the region.