Mar 16: The Government has taken the following steps to increase India’s exports:
- 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. up to 31-3-2022 due to the COVID-19 pandemic situation.
- Assistance is 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’ was launched 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 implemented with effect from 01.01.2021.
- Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase Free Trade Agreement (FTA) utilization by exporters.
- 12 Champion Services Sectors have been identified for promoting and diversifying services exports by pursuing specific action plans.
- Districts as Export Hubs has been launched 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.
- The active role of Indian missions abroad towards promoting India’s trade, tourism, technology, and investment goals has been enhanced.
- The package was announced in light of the COVID pandemic to support the 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 Lok Sabha today.
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