Exports likely to touch $350 bn in current fiscal: Prabhu
New Delhi, July 25 : Indian exports are expected to rake up healthy growth rates in the coming months and is likely to touch $350 billion by end of the current financial year, Commerce Minister Suresh Prabhu said on Wednesday.
Speaking at the second Services Excellence Awards organised by industry body Assocham, the Minister also said that the services sector is set to become a dominant driver of the economy and will contribute $3 trillion to the GDP by 2025.
"Despite increasing global protectionism, exports will continue to register healthy growth rates and is expected to touch $billion in the current fiscal (2018-19)," he said.
"In order to give a boost to the services sector, the Commerce Ministry has identified 12 champion services sectors for which Cabinet has approved a dedicated fund of Rs 5,000 crore to support initiatives for sectoral action."
Noting that the services sector contributes significantly to India's increased productivity and competitiveness, Prabhu said that high quality of the champion services sectors will further boost exports of various services from India.
He also said that India is pushing for export of services to countries in Africa and Latin America.
"India has a two pronged agenda with its trading partners of allowing professionals from India to travel abroad and trade facilitation in services export," he added.
Indian merchandise shipments have been on a rising curve, and as per official data earlier this month, exports in June at $27.7 billion rose by 17.57 per cent over the same month in 2017. But with higher crude prices increasing oil import costs by more than half over the last year, the country's trade deficit soared to $16.60 billion.
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Hubballi: Gym trainer assaulted; police say clash due to personal reasons
Hubballi: A gym trainer was allegedly assaulted by a group of people following accusations of sexual assault and ‘love jihad’, even as both families involved in the case traded serious allegations.
According to police, a group of individuals went to the residence of Sameer Mulla, a resident of Vijayanagar, and questioned him over his friendship with a woman he had met at a gym. The situation escalated into a clash, during which he was allegedly dragged away and assaulted. He sustained minor injuries and was admitted to KIMS hospital.
N. Shashikumar said that after this incident, members from Sameer’s side went to the woman’s house, leading to another clash in which one person was injured. “It was wrong for groups to go near houses. We will take necessary legal action,” he said, adding that the incident appears to have arisen from personal reasons. Police have taken some individuals into custody and are investigating the matter.
Sameer Mulla was reportedly thrashed by a group of Sangh Parivar activists and later handed over to police at the Old Hubballi Police Station after relatives of the woman and members of Hindu organisations gathered at his residence in Rajnagar.
The woman’s family alleged assault and threats from Sameer’s relatives at their Vikas Nagar residence.
Meanwhile, Sameer’s family denied the allegations and accused the woman’s relatives and others of assaulting and kidnapping him. His sister said the two had been in a relationship for three years and that the allegations were baseless.
Police said statements from both sides have been recorded, and a detailed investigation is underway. Sameer remains hospitalised, and appropriate legal action will be taken based on findings.
In a video statement shared on social media, the 20-year-old woman alleged that Sameer had given her an intoxicant, recorded videos without her consent, and sexually assaulted her. She lodged a complaint alleging rape and blackmail, which police are investigating.
In another video, Sameer denied the allegations, claiming the video was recorded with consent and that the accusations were made under pressure.
Former Hubballi-Dharwad Urban Development Authority (HDUDA) chairman Nagesh Kalburgi termed the incident a serious matter and urged police to take strict action.
Police said the case involves multiple complaints from both sides, and further investigation is underway.
