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dated December 2, 1958: “Export drive”

Mr. Lal Bahadur Shastri, Union Minister for Commerce and Industry, inaugurating the tenth annual general meeting of the Indian Non-ferrous Metals Manufacturers’ Association in Calcutta on November 30, called upon industrialists to make “a bold export drive” to mitigate foreign exchange difficulties. He said “we must have money enough in foreign currency to finance the purchase of the essential requirements for the maintenance of our economy and for stepping up industrial production.” The only sound way of meeting the situation was that of increasing India’s exports. He also referred to the recent agreements with Soviet Russia, Poland and Chechoslovakia and expressed the hope that they would help in easing the supply of raw materials like copper, lead, etc.

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