“Exports crossed the landmark figure of Rs 456418 crore during 2005-06. During 2007-08, exports are likely to reach the target of over Rs 5 lakh crore quite comfortably. Export possibilities are immense in a new competitive global market.”
Industrial liberalization, globalization, marketing economy & heightened competition is changing all this permanently. While labour laws have become antiquated & virtually effective, Government policies which encourage dispersal of industries into backward locations have helped improve matters. Market forces have now compelling modernization, productivity improvement & value of additional efficiency like never before. Some parts of the country where industry had been severally affected by obscurantist trade unionism, are today showing heightened pragmatism to generate & safeguard employment as well as to attract new investment. Industrially better endowed states do not seem to appreciate that in order to stay ahead in the game of economic & industrial development, only one thing counts – efficiency of value addition & an enabling climate along with a degree of reassuarance about the future.
In the achievement of the strategic objectives of a self-reliant & dynamic economy, the Government considers a substantial expansion in export earnings to be great of importance. Exports enable the country to pay for critical imports – machinery, metals, petroleum, fertilizers & new technological inputs – & step up the pace of economic development, put the resources of those goods in which India has a long term comparative advantage. This apart, exports are an important instrument for the creation of employment opportunities in small-scale industries, cottage industries, & in the agricultural sector as well as in the medium & large industrial sector.