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dated September 1, 1958: Export promotion

Inaugurating the Export Promotion Advisory Council in New Delhi on August 31, the Union Minister for Commerce and Industry, Mr. Lal Bahadur Shastri, drew attention to the seriousness of the present gap between India’s exports and her imports which he described as the “problem of problems”, and reviewed the prospects of narrowing it. It was a depressing fact that compared with the corresponding period of last year, India’s export earnings in the first six months of this year had declined by over Rs.50 crores, and the resulting situation would have been far more unrelieved, if in the same period, imports had not been cut down to the extent of Rs.100 crores in value.

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