Global trade facing challenges, India needs to boost exports: Union minister Suresh Prabhu
The world is facing serious challenges as the US is taking protectionist measures and India needs to explore ways to boost exports, Commerce Minister Suresh Prabhu on Friday said
New Delhi: The world is facing serious challenges as the US is taking protectionist measures and India needs to explore ways to boost exports, Commerce Minister Suresh Prabhu on Friday said. He said the US is taking "very strong" measures against all its major trading partners including China.
The comments came amid US President Donald Trump imposing of tariffs on $60 billion Chinese imports, and also increasing import tariff on steel and aluminium in case of India. "It is a reality that the world is facing serious challenges...In this context, we have to increase our exports," he said here at a function.
Prabhu said India is a firm believer in a rule-based, transparent and participatory trading system and recently it has invited key WTO member countries here to discuss ways to reinvigorate the global trading body. "If any country takes a unilateral action, we will definitely take note of it and we will deal with it appropriately," he told reporters when asked about impact of the possible trade war between the US and China .
On Thursday, President Trump imposed tariffs on $60 billion Chinese imports, a move that could escalate the already tense trade relations between the world's two biggest economies.
The minister further said the government is taking steps to promote shipments. "All must take steps to promote exports..We are trying to explore new markets and products by doing market research," he added. Prabhu said India is meeting leaders of some African countries to promote exports in the region.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Facebook, Twitter remove Donal Trump's video post where he says children are 'almost immune' to COVID-19
Facebook and Twitter said that Donald Trump's claim amounted to "misinformation."
Donald Trump promotes conspiracy theory claiming Kamala Harris is ineligible to serve in White House
The US president was a high-profile force behind the "birther movement", which leveled the same false accusations at Barack Obama
From 'home of Yo Semites to Lord of the Thighs', best Twitter reactions to Donald Trump's ‘Thighland’ gaffe
The error, coming just days after Trump mispronounced Yosemite National Park's name as “Yo Semites”, resulted in much mockery and mirth on social media.