Supreme Court: Air Force Group Insurance Society qualifies as ‘State’ under Article 12  ||  SC: Anganwadi Workers With Degrees Are Eligible For The 29% Quota For Supervisors in Kerala  ||  SC: Giving Accused the Option of Search Before a Police Officer Breaches Section 50 of the NDPS Act  ||  Gujarat HC: Person is Entitled to Compensation For Injury or Death Within Railway Station Premises  ||  Delhi HC: PMLA Can Apply Even if the Scheduled Offence Occurred Before the Law Came Into Force  ||  J&K&L HC: Accused Can Admit Evidence Recorded under Section 299 Crpc After Appearing in Court  ||  J&K&L HC: District Judge Serving as Reference Court under Land Acquisition Act Acts as a Civil Court  ||  Del HC: Subsequent Bail Pleas From Same FIR Should Usually Go Before the Judge Who Denied the First  ||  J&K&L HC: Vaishno Devi Shrine Board, Despite Statutory Status, is Not a ‘State’ under Article 12  ||  SC: Confirmation of an Auction Sale Does Not Bar Judicial Scrutiny of Reserve Price Valuation    

Steps Taken to Boost Export- (Press Information Bureau) (11 Mar 2020)

MANU/PIBU/0662/2020

Customs

Primary focus Government export promotion schemes/ policies is to refund duties and taxes levied on inputs used in production of export products, reduce cost disability by providing incentives to specified products and improve all-round ease of doing business. Overall thrust is on enhancing competitiveness and growth in exports of all products groups across all destinations. As a result, our export products and destinations are fairly diversified. In Financial Year 2018-19 products were exported to 233 countries/territories covering all big and small trading countries. During this period, we exported products in all the 168 principal commodity groups.

Government is taking holistic measures to make exports competitive whether it is ensuring access to affordable credit, initiating exporter friendly schemes, promoting districts as export hubs, improving logistics and improving utilisation of Free Trade Agreements (FTAs).

In order to boost India's exports, Government has taken several steps, including:

A new Foreign Trade Policy (FTP) 2015-20 was launched on 1st April 2015. The policy, inter alia, rationalised the earlier export promotion schemes and introduced two new schemes, namely Merchandise Exports from India Scheme (MEIS) for improving export of goods and 'Services Exports from India Scheme (SEIS)' for increasing exports of services. Duty credit scrips issued under these schemes were made fully transferable.

Based on Mid-term Review of the FTP 2015-20 undertaken on 5th December, 2017, incentives for labour intensive / MSME sectors were increased by 2%.

A new Logistics Division was created in the Department of Commerce for integrated development of the logistics sector. India's rank in World Bank's Logistics Performance Index moved up from 54 in 2014 to 44 in 2018.

Interest Equalization Scheme on pre and post shipment rupee export credit was introduced from 1.4.2015 providing interest equalisation at 3% for labour intensive / MSME sectors. The rate was increased to 5% for MSME sectors with effect from 2.11.2018 and merchant exporters were covered under the scheme with effect from 2.1.2019.

For improving ease of doing business, online issuance of Importer Exporter Codes (IEC), has been started. India's rank in World Bank 'Ease of Doing Business' ranking improved from 142 in 2014 to 63 in 2019 with the rank in 'trading across borders' moving up from 122 to 80.

A new scheme called "Trade Infrastructure for Export Scheme (TIES)" was launched with effect from 1st April 2017 to address the export infrastructure gaps in the country. A comprehensive "Agriculture Export Policy" was launched on 6th December, 2018 with an aim to double farmers' income by 2022 and provide an impetus to agricultural exports A new scheme called "Transport and Marketing Assistance" (TMA) has been launched for mitigating disadvantage of higher cost of transportation for export of specified agriculture products.

Tags : EXPORT   BOOST   STEPS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved