Delhi, 18 MAR 2020
\nIndia\u2019s merchandise exports has increased from 303.53 US$ billion in 2017-18 to 330. 07 US$ billion in 2018-19, registering a positive growth of 8.75%. India\u2019s export sector faced many challenges post 2013-14 period due to accentuation of the global economic \/ financial crisis. However, exports have been growing on a secular basis since 2016-17 for almost three years and total exports reached a new peak of more than half a trillion dollars for the first time in 2018-19. The sector-wise values of exports for 2018-19 and percentage change over the previous year 2017-18 are given at Annexure. The Foreign Trade Policy (2015-20), launched on 1st April 2015, provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in line with the \u2018Make in India\u2019, \u2018Digital India\u2019, \u2018Skill India\u2019, \u2018Startup India\u2019 and \u2018Ease of Doing Business\u2019 initiatives.<\/p>\n
Representations\/suggestions are received from trade organizations\/export promotion councils from time to time for promotion of exports which are taken into consideration as part of the regular ongoing process of review and reform of trade policies. To promote export, Government has taken following remedial measures including changes in the export policy:<\/p>\n
The Foreign Trade Policy (2015-20), inter alia, rationalised the earlier export promotion schemes and introduced two new schemes, namely \u2018Merchandise Exports from India Scheme (MEIS)\u2019 for improving export of goods and \u2018Services Exports from India Scheme (SEIS)\u2019 for increasing exports of services. Duty credit scrips issued under these schemes were made fully transferable.
\nA Mid-term Review of the FTP 2015-20 was undertaken in December, 2017 under which incentives for labour intensive \/ MSME sectors were increased by 2% under MEIS.
\nA new Logistics Division was created in the Department of Commerce for integrated development of the logistics sector. India\u2019s rank in World Bank\u2019s Logistics Performance Index was moved up from 54 in 2014 to 44 in 2018.
\nInterest Equalization Scheme on pre and post shipment rupee export credit was introduced from 01.04.2015 providing interest equalisation at 3% for labour intensive \/ MSME sectors. The rate was increased to 5% for MSME sectors with effect from 02.11.2018 and merchant exporters were covered under the Scheme with effect from 02.01.2019.
\nMeasures to increase procurement of capital goods from indigenous manufacturers under the Export Promotion Capital Goods (EPCG) scheme by reducing specific export obligation from 90 percent to 75 percent of the normal export obligation.
\nIssue of Advance Authorisation to allow duty free import of inputs for export product within a specified timeline.
\nFor improving ease of doing business, online issuance of Importer Exporter Codes (IEC) has been started. India\u2019s rank in World Bank \u2018Ease of Doing Business\u2019 ranking was improved from 142 in 2014 to 63 in 2019 with the rank in \u2018trading across borders\u2019 moving up from 122 to 80.
\nA new scheme called \u201cTrade Infrastructure for Export Scheme (TIES)\u201d was launched with effect from 1st April 2017 to address the export infrastructure gaps in the country.
\nA new scheme called Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) covering export of garments and made-ups was notified on 7.3.2019 providing refund of duties\/taxes at higher rates.
\nA comprehensive \u201cAgriculture Export Policy\u201d was launched on 6th December, 2018 with an aim to double farmers\u2019 income by 2022 and provide an impetus to agricultural exports.
\nA new scheme called \u201cTransport and Marketing Assistance\u201d (TMA) has been launched for mitigating disadvantage of higher cost of transportation for export of specified agriculture products.
\nGovernment has introduced a new Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) on 13-03-2020 for re-imbursement of taxes\/ duties\/ levies, which are currently not being refunded under any other mechanism, at the central, state and local level.<\/p>\n
Annexure<\/p>\n
India\u2019s Merchandise Export, sector-wise for 2017-18 and 2018-19<\/p>\n
(Value in US$ Million)<\/strong><\/td>\n<\/tr>\n| S. No<\/strong><\/td>\n | QE Groups<\/strong><\/td>\n | 2017-18<\/strong><\/td>\n | 2018-19<\/strong><\/td>\n | % Change<\/strong><\/td>\n<\/tr>\n | 1<\/td>\n | Engineering Goods<\/td>\n | 78696<\/td>\n | 83622<\/td>\n | 6.26<\/td>\n<\/tr>\n | 2<\/td>\n | Petroleum Products<\/td>\n | 37465<\/td>\n | 46554<\/td>\n | 24.26<\/td>\n<\/tr>\n | 3<\/td>\n | Gems And Jewellery<\/td>\n | 41544<\/td>\n | 40251<\/td>\n | -3.11<\/td>\n<\/tr>\n | 4<\/td>\n | Organic & Inorganic Chemical<\/td>\n | 18508<\/td>\n | 22379<\/td>\n | 20.91<\/td>\n<\/tr>\n | 5<\/td>\n | Drugs And Pharmaceuticals<\/td>\n | 17283<\/td>\n | 19147<\/td>\n | 10.78<\/td>\n<\/tr>\n | 6<\/td>\n | Rmg Of All Textiles<\/td>\n | 16707<\/td>\n | 16138<\/td>\n | -3.40<\/td>\n<\/tr>\n | 7<\/td>\n | Electronic Goods<\/td>\n | 6393<\/td>\n | 8829<\/td>\n | 38.11<\/td>\n<\/tr>\n | 8<\/td>\n | Cotton Yarn\/Fabs.\/Madeups, Handloom Products Etc.<\/td>\n | 10260<\/td>\n | 11215<\/td>\n | 9.31<\/td>\n<\/tr>\n | 9<\/td>\n | Plastic And Linoleum<\/td>\n | 6851<\/td>\n | 8607<\/td>\n | 25.64<\/td>\n<\/tr>\n | 10<\/td>\n | Marine Products<\/td>\n | 7389<\/td>\n | 6803<\/td>\n | -7.94<\/td>\n<\/tr>\n | 11<\/td>\n | Rice<\/td>\n | 7806<\/td>\n | 7751<\/td>\n | -0.71<\/td>\n<\/tr>\n | 12<\/td>\n | Man-Made Yarn\/Fabs.\/Madeups Etc.<\/td>\n | 4826<\/td>\n | 4981<\/td>\n | 3.19<\/td>\n<\/tr>\n | 13<\/td>\n | Leather And Leather Manufactures<\/td>\n | 5289<\/td>\n | 5141<\/td>\n | -2.80<\/td>\n<\/tr>\n | 14<\/td>\n | Mica, Coal And Other Ores, Minerals Including Process<\/td>\n | 3777<\/td>\n | 4255<\/td>\n | 12.65<\/td>\n<\/tr>\n | 15<\/td>\n | Meat, Dairy And Poultry Products<\/td>\n | 4610<\/td>\n | 4364<\/td>\n | -5.34<\/td>\n<\/tr>\n | 16<\/td>\n | Spices<\/td>\n | 3115<\/td>\n | 3322<\/td>\n | 6.65<\/td>\n<\/tr>\n | 17<\/td>\n | Ceramic Products And Glassware<\/td>\n | 2132<\/td>\n | 2649<\/td>\n | 24.27<\/td>\n<\/tr>\n | 18<\/td>\n | Iron Ore<\/td>\n | 1471<\/td>\n | 1317<\/td>\n | -10.45<\/td>\n<\/tr>\n | 19<\/td>\n | Fruits And Vegetables<\/td>\n | 2513<\/td>\n | 2541<\/td>\n | 1.10<\/td>\n<\/tr>\n | 20<\/td>\n | Handicrafts Excl. Hand Made Carpet<\/td>\n | 1823<\/td>\n | 1838<\/td>\n | 0.81<\/td>\n<\/tr>\n | 21<\/td>\n | Cereal Preparations And Miscellaneous Processed Item<\/td>\n | 1417<\/td>\n | 1555<\/td>\n | 9.80<\/td>\n<\/tr>\n | 22<\/td>\n | Carpet<\/td>\n | 1430<\/td>\n | 1482<\/td>\n | 3.64<\/td>\n<\/tr>\n | 23<\/td>\n | Oilseeds<\/td>\n | 1174<\/td>\n | 1157<\/td>\n | -1.50<\/td>\n<\/tr>\n | 24<\/td>\n | Tobacco<\/td>\n | 934<\/td>\n | 981<\/td>\n | 5.04<\/td>\n<\/tr>\n | 25<\/td>\n | Tea<\/td>\n | 837<\/td>\n | 831<\/td>\n | -0.77<\/td>\n<\/tr>\n | 26<\/td>\n | Oil Meals<\/td>\n | 1093<\/td>\n | 1509<\/td>\n | 38.01<\/td>\n<\/tr>\n | 27<\/td>\n | Coffee<\/td>\n | 969<\/td>\n | 822<\/td>\n | -15.10<\/td>\n<\/tr>\n | 28<\/td>\n | Cashew<\/td>\n | 922<\/td>\n | 654<\/td>\n | -29.05<\/td>\n<\/tr>\n | 29<\/td>\n | Jute Mfg. Including Floor Covering<\/td>\n | 335<\/td>\n | 325<\/td>\n | -3.03<\/td>\n<\/tr>\n | 30<\/td>\n | Other Cereals<\/td>\n | 249<\/td>\n | 349<\/td>\n | 40.38<\/td>\n<\/tr>\n | 31<\/td>\n | Others<\/td>\n | 15705<\/td>\n | 18709<\/td>\n | 19.13<\/td>\n<\/tr>\n | Total Export<\/strong><\/td>\n | 303526<\/strong><\/td>\n | 330078<\/strong><\/td>\n | 8.75<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n | <\/p>\n <\/p>\n This information was given by the Minister of Commerce and Industry, Shri Piyush Goyal, in a written reply in the Lok Sabha today.<\/p>","protected":false},"excerpt":{"rendered":" Delhi, 18 MAR 2020 India\u2019s merchandise exports has increased from 303.53 US$ billion in 2017-18 to 330. 07 US$ billion in 2018-19, registering a positive growth of 8.75%. India\u2019s export sector faced many challenges post 2013-14 period due to accentuation of the global economic \/ financial crisis. However, exports have been growing on a secular […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[4368,24,4771],"tags":[],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_shortlink":"https:\/\/wp.me\/paUKPQ-9jg","_links":{"self":[{"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/posts\/35790"}],"collection":[{"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/comments?post=35790"}],"version-history":[{"count":1,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/posts\/35790\/revisions"}],"predecessor-version":[{"id":35792,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/posts\/35790\/revisions\/35792"}],"wp:attachment":[{"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/media?parent=35790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/categories?post=35790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allgujaratnews.in\/en\/wp-json\/wp\/v2\/tags?post=35790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |