Calcutta, Sept. 24: Domestic industry should increase high-tech exports, which currently hovers around 11 per cent of the total exports, to remain globally competitive, said secretary of department of industrial policy and promotion R. R. Shah.
Shah was addressing a seminar on Manufacturing excellence and outsourcing organised by CII. He said about 89 per cent of the countrys export basket was low-tech.
Global profitability comes hand-in-hand with technology and innovation. So domestic industry needs to be more innovative, Shah said. He also emphasised that industry should leverage on the opportunity of turning India into a major outsourcing hub for other countries. Global companies have decided to focus on core areas and outsource non-core areas of businesses. India should avail of this golden opportunity, Shah said.