Indian exports continue to show signs of recovery after the initial shock of the COVID-19 pandemic. The government is now looking to strengthen domestic industries and help them move up the global value chain. Commerce Minister Piyush Goyal said businesses should focus on high quality along with good service and pricing to achieve this goal.
Additionally, the government is also mulling a US $23 billion production-linked incentive to boost manufacturing in sectors such as automobiles, solar panels, consumer appliances, textile, food processing, etc. This program will be a step toward’s Prime Minister Narendra Modi’s ‘Atmanirbhar Bharat' vision and boost Indian exports. A similar program, launched earlier this year, helped the government get investments worth US $1.5 billion from mobile-phone manufacturing companies like Samsung, Foxconn and Wistron. According to reports, this initiative can help the country export mobile phones worth US $100 billion in the next five years.