Cutting imports will reduce trade deficit: Prime Minister Office

New Delhi: The move to reduce “import burden” is also aimed at reducing the burgeoning trade deficit due to rising imports, besides creating more employment opportunities within the country through manufacturing activities. We have identified nine commodities of which the annual import constitutes more than $100 million each. The commerce ministry initiative is following a directive from the PMO,” sources said.

The ministry of commerce has written to the respective sector councils and associations, seeking suggestions on ways to reduce such imports. The nine commodities are vegetable oils, pulses, fresh fruits, cashew, sugar, alcoholic beverages, processed and packaged items, cocoa products and sesame seeds. Among the identified items, edible oil leads the import basket with a 60 per cent share.