The strategy paper for export promotion hinges on four key elements (pillars). A product strategy that will build upon the intrinsic strengths of industries such as engineering and chemicals. Pharmaceutical industry, currently focussed on generics, can be encouraged to go into collaborative research and product development. Value addition has been recommended for other industries such as leather products and textiles.
The second pillar is market diversification; develop the newer markets in Asia, Africa and Latin America. India's recent bilateral agreements with countries in Asia and Southeast Asia will further the objective. The third pillar is to incentivise R&D and technology application.
The fourth pillar is to consciously build a Brand India.
