Prabhu chairs meeting to promote domestic production of goods

Speed Post News Network

New Delhi : Union Minister for Commerce & Industry and Civil Aviation Suresh Prabhu on October 4, 2018, chaired a meeting in New Delhi on the issue of stepping up domestic production of goods across key sectors to increase domestic availability and promote economic growth and export capacity.

The meeting was attended by Secretaries of 16 Ministries and Departments of Government of India. Discussions were held on steps to be taken by the Ministries and Departments to ramp up domestic production through better capacity utilisation and capacity creation and expansion in the short and medium to long term, according to a PIB release.

Key ministries were asked to examine measures on diversification of export base and increase domestic production in order to deal with merchandise trade deficit. The Commerce Minister also emphasised the need for increasing the capital inflows in addition to increasing domestic production, an issue to be handled by Department of Economic Affairs and Reserve Bank of India.