Finance
By: Shree1news, 10 DEC 2021The credibility and demand for Indian products in the world is evident from India’s merchandise exports exhibiting accelerated Y-o-Y growth vis-à-vis 2020 and 2019 levels. India’s merchandise exports in April-November 2021 stood at USD 262.46 billion, an increase of 50.71% over April-November 2020 and an increase of 24.29% over April-November 2019.
Government is closely facilitating, monitoring, assisting and channelizing efforts for a target-driven merchandise export by including all stakeholders, across states and reaching out up to the districts.The following are some of the steps taken by Department of Commerce to provide access of global markets to industries and farmers, including the schemes being implemented:
- 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.
- 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.
- 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.
- For ‘Districts as Export Hubs’ Initiative, products and services with export potential have been identified in all districts of the country.
- 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.
- 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.
- Common Digital Platform for Certificate of Origin to facilitate trade and increase FTA utilization by exporters.
- Active role of EPCs, Commodity Boards and Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.
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 Rajya Sabha today.
Source: PIB
