Daijiworld Media Network - New Delhi

New Delhi, Nov 4: Prime Minister Narendra Modi on Monday evening held a high-level meeting with exporters from key labour-intensive sectors to deliberate on strategies aimed at boosting India’s global trade competitiveness, industry sources confirmed.

The meeting saw participation from representatives of apparel, leather, gems and jewellery, handicrafts, engineering, and seafood industries — sectors that play a vital role in employment generation and foreign exchange earnings.

Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal, Cabinet Secretary T.V. Somanathan, and senior officials from the ministries of textiles, commerce, and MSME were present on behalf of the government. Heads of various export promotion councils also joined the discussion.

According to sources, the meeting gained special importance as these sectors have been facing headwinds following the imposition of a steep 50% tariff by the United States on several Indian goods. The increased import duties have made Indian products less competitive in international markets, prompting the government to explore targeted support measures.

Currently, India holds around 2% share in global trade — with 1.6% in goods exports and 3.3% in services. Despite challenges, exports recorded a growth of 6.74% to USD 36.38 billion in September. However, imports surged by 16.6%, widening the trade deficit to USD 31.15 billion.

The meeting reportedly focused on identifying bottlenecks, improving logistics efficiency, exploring new markets, and strengthening trade partnerships to sustain export momentum in a volatile global environment.

Officials are expected to draw up a follow-up action plan based on the discussions, with particular emphasis on protecting and promoting labour-intensive sectors, which are considered the backbone of India’s export economy.