The Associated Chambers of Commerce & Industry of India

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Commerce ministry to prepare a proper business plan to promote exports: Suresh Prabhu


Thursday, November 23, 2017

 New Delhi, November 23, 2017: The Ministry of Commerce and Industry is in the process of preparing a proper business plan based on scientific market research to promote goods and services globally, said Union Minister for Commerce and Industry, Mr Suresh Prabhu said at an ASSOCHAM event held in New Delhi today.
For each of the markets, ministry of commerce is in the process of preparing a proper business plan based on scientific market research. The proper market segmentation need to understand where there is the possibility of penetration of goods and services globally, said Mr Prabhu while inaugurating an ASSOCHAM 5th India Luxury Summit- 2017.
“We are also trying to create a new industrial policy and trying to create new markets of Indian product globally. Also trying to create the demand for all kinds of products”, said commerce and industry minister at an ASSOCHAM Luxury summit.
Luxury items will create the demand at all levels. We must understand that are linkage between affluent societies which also creates demand for all, added Mr. Prabhu.
We need to create a demand of all segments of the society, all levels of developments. Our society must be development aspiration society, said Mr. Prabhu. 
‘I have met nearly 40-50 ministers and will meet another 50-60 more ministers in few weeks  as we are trying to create the market in Latin America and Russia we are trying to actually talk to all business associations and trying to engage with it’, said Mr. Prabhu.
The products which were never exported before and luxury products can be exported to different markets, said Mr. Prabhu.
Mr. Prabhu also pointed to the Chinese tourist are the highest spending in the world, the demand for luxury products in china is the highest.

ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations, and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on
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