21.7% of GDP is Exports

Dec 15: Government has been facilitating, monitoring, assisting and channelizing efforts to increase the exports and thereby its share in GDP through a target-driven approach by engaging all stakeholders, across states and districts. Despite the pandemic, the share of India’s total exports (Good & Services) to GDP was 18.7% in 2020-21, which is already above 15 percent. Exports have performed remarkably well in the current financial year with the share of exports to GDP at 21.7 percent in the first half (April to September) of 2021-22.

The following are some of the steps taken by Department of Commerce to increase exports and thereby its share in GDP:

  1. ‘Districts as Export Hubs’(DEH) Initiative under which products and services with export potential have been identified in all districts of the country. An institutional mechanism has been set up in each District in the form of District Export Promotion Committees (DEPCs). The primary function of the DEPC is to prepare and act on District Specific Export Action Plans in collaboration with all the relevant stakeholders from the Centre, State and District levels.
  2. A Central Sector Scheme ‘Transport and Marketing Assistance (TMA) for Specified Agriculture Products’ for providing assistance for the international component of freight, to mitigate the freight disadvantage for the export of agriculture products, and marketing of agricultural products, is under implementation.
  3. Market Access Initiative (MAI) Scheme is an Export Promotion Scheme envisaged to act as a catalyst to promote India’s exports on a sustained basis. The scheme is formulated on focus product-focus country approach to evolve specific market and specific product through market studies/survey. Assistance would be provided to Export Promotion Organizations/Trade Promotion Organizations/National Level Institutions/ Research Institutions/Universities/Laboratories, Exporters etc., for enhancement of exports through accessing new markets or through increasing the share in the existing markets.
  4. In addition, assistance to the exporters of agricultural products is also available under the Export Promotion Schemes of Agricultural & Processed Food Products Export Development Authority (APEDA), Marine Products Export Development Authority (MPEDA), Tobacco Board, Tea Board, Coffee Board, Rubber Board and Spices Board.
  5. Trade Infrastructure for Export Scheme (TIES) is operational from FY 2017-18 with the objective of assisting Central and State Government agencies for creation of appropriate infrastructure for growth of exports.
  6. The Government has introduced the Remission of Duties and Taxes on Exported Products (RoDTEP). This scheme seeks remission of Central, State and Local duties/taxes/levies at different stages at the Central, State and local level, which are incurred in the process of manufacture and distribution of exported products, but are currently not being refunded under any other duty remission scheme.
  7. Common Digital Platform for Certificate of Origin to facilitate trade and increase FTA utilization by exporters.
  8. EPCs, Commodity Boards and India’s mission abroad are actively promoting India’s trade, tourism, technology and investment goals.

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