Misconception that India is subsidising exporters: Prabhu
Kolkata, July 7: A Union Commerce Minister Suresh Prabhu on Saturday said there is misconception that India is providing subsidies to its exporters, noting what the government gives is to minimise the adversities they suffer in entering the global markets.
"This is a misconception that we subsidise our exports... actually we don't subsidise the exports. What we give to the exporters in India is not any subsidy or incentive to promote exports but in a way, (to) partially offset the inadequate infrastructure support that they have... the high interest cost in the system," he said.
"We are trying to minimise the adversities they suffer from. This is not actually exports subsidy but in a way it is actually reducing the burden which they suffer to enter the global markets," he said at SHEFEXIL (Shellac and Forest Products Export Promotion Council) Awards for Export Excellence in association with The Economic Times.
Rich countries are providing more subsidies to their farmers that India is giving, he said.
"We are actually in a way not at all violating or not even trying to infringe any of the global trading system," he said, adding that the country is "fully WTO compatible".
Prabhu also said that in a bid to promote exports and overall industries growth, the centre is preparing a logistic plan.
"We are working on the logistic plan in two phases. The first is how to optimise the present logistic infrastructure and integrate it. The second is to create logistic hubs so that products get launched globally to use these hubs."
He also pointed out the possibility of creating basis for logistics in critical areas overseas and citing an example of central American country like Panana which connects both north and south America, Prabhu said logistic base in such country can help India's exporters.
He said India is preparing a matrix of products and countries that can be exported. "We are actually identifying 12 champion sectors," he added.
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NDA's win in Thiruvananthapuram Corporation watershed moment in Kerala politics: PM Modi
New Delhi (PTI): Prime Minister Narendra Modi on Saturday termed the mandate received by the BJP-led NDA in the Thiruvananthapuram Corporation a "watershed moment" in Kerala's politics and expressed gratitude to the BJP workers for the "spectacular results".
The Left parties suffered a major setback in the Thiruvananthapuram Corporation, held by them for 45 years, as the BJP-led NDA surged ahead with a huge lead.
Reacting to the civic body results, the prime minister said it is a day to recall the work and struggles of generations of karyakartas (workers) in Kerala, who worked at the grassroots, which ensured today's result became a reality.
"Thank you Thiruvananthapuram! The mandate the BJP-NDA got in the Thiruvananthapuram Corporation is a watershed moment in Kerala's politics," he wrote on 'X'.
PM Modi said the people are certain that the development aspirations of Kerala can only be addressed by the BJP. "Our Party will work towards this vibrant city's growth and boost 'Ease of Living' for the people," he said with the hashtag #VikasitaThiruvananthapuram.
The prime minister said the BJP karyakartas are the strength of the party, and everyone is proud of them.
"My gratitude to all hardworking BJP karyakartas who have worked among the people, which has ensured a spectacular result in the Thiruvananthapuram Corporation," he said.
