Export drive refers to the collective efforts undertaken by a country’s government or its authorized agencies to promote and enhance the export of goods and services to foreign nations. It involves various strategies aimed at boosting international trade and contributing to a country’s economic growth.
Read: Types of Warehouses
Measures Government Can Take for Export Drive
- Reduction/Elimination of Export Duties: Governments can encourage exports by reducing or eliminating export duties, which reduces the cost of exporting goods.
- Infrastructure Improvement: Enhancing sea and airport facilities ensures efficient transportation of goods for export.
- Communication Infrastructure: Improving communication facilities facilitates better coordination between exporters and international markets.
- Freight Reduction: Lowering sea and air freight charges for exports makes exported goods more competitive.
- Export Promotion Agency: Establishing an agency dedicated to promoting exports provides focused support to exporters.
- International Trade Fairs: Organizing trade fairs on an international scale showcases a country’s products to potential foreign buyers.
- Currency Devaluation: Devaluing the local currency can make exports more affordable and attractive in foreign markets.
- Credit Facilities for Exporters: Offering credit facilities to exporters helps manage cash flow and operational expenses.
- Marketing Board Revival: Resuscitating marketing boards can aid in controlling quality standards and pricing of exports.
- Public Enlightenment Campaigns: Engaging in public awareness campaigns educates businesses about export opportunities and requirements.
- Agricultural Production Encouragement: Supporting increased agricultural output contributes to a broader range of exportable products.
- Extensive Research: Conducting research into farm production ensures efficient and quality-oriented processes, leading to better exports.