- Commerce Ministry to hold consultations with exporters this week to diversify exports
- Meetings will include representatives from chemicals, gems, jewellery, and textiles sectors
- Discussions will focus on reducing dependence on limited products and markets
The Commerce Ministry is set to hold a series of consultations with exporters this week as part of its renewed push to diversify India's export basket and strengthen its presence in global markets, sources told NDTV Profit.
The meetings, scheduled to run over two to three days, will bring together industry representatives from key sectors including chemicals, gems and jewellery, and textiles, sources said.
The discussions are expected to centre around strategies to reduce dependence on a narrow set of products and markets, and to chart out a roadmap for entering new geographies.
The move comes as the government accelerates work on the proposed Export Promotion Mission, which seeks to provide targeted support and market intelligence to exporters.
As part of the plan, India will launch dedicated outreach initiatives in 40 countries, with priority markets in Europe such as the UK, Spain, Germany, and Italy. These efforts will include trade fairs, buyer-seller meets, and sector-specific promotional campaigns.
India's merchandise exports are facing pressure amid geopolitical tensions and fluctuating commodity prices. The US started levying 50% tariff from Wednesday, including a 25% punitive tariff for Russian oil purchases by India.
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