Three policies in trade sector soon: Prabhu

Civil Aviation and Commerce Minister Suresh Prabhu said that his ministries are working towards sectorial change and the first step in that direction would be introducing new policies. He also added that new cargo policy, EXIM policy and Agri-export policy will be introduced and all that will boost trade.

While new cargo policy will come under the civil aviation ministry, other two policies will be under the commerce ministry. “There are sectorial changes needed and we need to work on it,” said Prabhu, at Indian Economic Summit 2018.

Talking about policies, Prabhu said, “A new cargo policy will be introduced.” This will allow many domestic flights to fly in the night and improve efficiency. For the EXIM policy, his ministry is working with EXIM bank for it.

He urged Maharashtra chief minister to develop 5-6 export centres, which will allow smooth movement of goods and services. Prabhu said that Jayant Sinha is setting up two task force—one for manufacturing of drones and other for manufacturing of aircrafts in India.

He claimed that India would need 1,000 new aircrafts and the country should be able to manufacture it in India. Meanwhile, he felt that drones will attract huge investments into the country. He added the major thrust of the government will be to engage with rest of the world and also promote exports to new markets.