There are signs of revival of exports of the country. India’s overall exports (merchandise and services) has increased by 39.74% in 2021-22 (April-October) as compared to the corresponding period of previous year.
In order to boost India’s exports, the Government has taken several measures which include:
- The mid-term review (2017) of the Foreign Trade Policy (2015-20) was carried out and corrective measures were undertaken.
- Foreign Trade Policy (2015-20) extended by one year i.e. upto 31-3-2022 due to the COVID-19 pandemic situation.
- Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme.
- A Central Sector Scheme –‘Transport and Marketing Assistance for Specified Agriculture Products’–for providing assistance for the international component of freight to mitigate the freight disadvantage for the export of agriculture products.
- Remission of Duties and Taxes on Exported Products (RoDTEP) scheme and Rebate of State and Central Levies and Taxes (RoSCTL) Scheme have been launched with effect from 01.01.2021.
- Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters.
- Promoting and diversifying services exports by pursuing specific action plans for the 12 Champion Services Sectors.
- Promoting districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters/manufacturers to generate employment in the district.
- Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.
- Package announced in light of the Covidpandemic to support domestic industry through various banking and financial sector relief measures, especially for MSMEs, which constitute a major share in exports.
This information was given by the Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel, in a written reply in the Rajya Sabha today.
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DJN/MS/PK