In response to the declining exports in India, the government has formulated a plan to curb non-essential imports and boost the exports of domestic products. The plan includes cutting down on imports of luxury items and items that can be easily manufactured domestically. It also includes giving incentives to exporters, such as tax exemptions and other benefits, to encourage them to increase exports.
The government also plans to promote exports through schemes such as Make in India and improve the infrastructure in export-oriented sectors. Additionally, the government will promote Indian products in foreign markets and attract foreign investments. Finally, the government will take steps to reduce the cost of doing business and simplify the regulatory processes for exporters.