‘Increase in Indian exports can help bridge trade deficit’.

In a bid to make India a successful contributor to the global market, commerce and industry minister Anand Sharma stressed on having a stronger case for Indian exports to be presented before the heads of developed countries, especially the US.

Sharma was addressing the 46th annual convocation of Indian Institute of Foreign trade (IIFT) on Tuesday.

“There is tremendous potential in retail, health and education. These must be exploited, for which the government is doing its best to implement policies with inputs from various stakeholders. We also need to identify bilateral business cooperation avenues to make India a successful contributor to the global investment flow,” said Sharma.

At least 206 students graduated in 2010-12 academic batch, after completing an MBA in International Business.

The institute also distributed prizes to students for academic as well as non-academic excellence. While two students were given Dun and Bradstreet Award for best student in the MBA-IB batch, one student was conferred with the Professor Sumitra Chisti Memorial Award for best performance in Economics and Trade Policy.

On the widening gap between increasing exports and decreasing imports in India, commerce secretary Rahul Khullar said India’s widening trade deficit is a cause for concern as imports continue to rise while growth in exports decreases.

“This may create pressure on the rupee. Budding business graduates play a significant role in bridging the gap between India and potential markets,” he said.
IIFT is a deemed government university that has various courses on foreign trade management.

Source : deccanherald.com