India’s share in world merchandise exports remained constant at 1.7% in 2017, 2018 and 2019 (Jan-Dec). However, India’s rank as an exporter improved from 20th position in 2017 to 18th position in 2019 (as per latest available WTO press releases), indicating that the credibility and demand of Indian products are increasing in the world market.
The following are some of the initiatives taken by Government to provide world market for industries and farmers, and the schemes being implemented:
A comprehensive “Agriculture Export Policy” to provide an impetus to agricultural exports related to agriculture, horticulture, animal husbandry, fisheries and food processing sectors, is under implementation.
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, and marketing of agricultural products, is under implementation.
The Department of Commerce has several schemes to promote exports, including exports of agricultural products, viz. Trade Infrastructure for Export Scheme (TIES), Market Access Initiatives (MAI) Scheme etc. 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.
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.
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. Besides, exports are zero rated through drawback of duties, GST refund as well as other export promotion schemes.
Interest Equalization Scheme on pre and post shipment rupee export credit has been extended by one year i.e. upto 31-3-2021.
Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters.
Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.
India’s Merchandise exports have risen from USD 275.85 Billion in 2016-17 to USD 313.36 Billion in 2019-20 which is an increase of USD 37.51 Billion in the past three years.
The Union Budget for 2021-22 extensively and comprehensively envisages several initiatives aimed at enhancing India’s overall competitiveness and manufacturing capacities, which would enable growth, diversification and technological enhancement of India’s exports. These cover both ease of doing business in the area of approvals and procedures, and the physical environment for investment including the creation of robust infrastructure and logistics