Export Promotion Initiatives
The Indian Government has recently undertaken a series of export promotion initiatives to boost the country’s trade activities. These initiatives include the launch of a new Foreign Trade Policy, an extension of the Interest Equalization Scheme, and assistance through various schemes like the Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme. Additionally, the government has implemented schemes like Rebate of State and Central Levies and Taxes (RoSCTL) and Remission of Duties and Taxes on Exported Products (RoDTEP) to promote specific sectors. A common digital platform for Certificate of Origin has been introduced to facilitate trade, and the Districts as Export Hubs initiative aims to identify products with export potential in each district.
Enhancing Export Promotion Abroad
The government is actively involved in promoting India’s trade, tourism, technology, and investment goals through Indian missions abroad. It conducts regular monitoring of export performance in collaboration with various bodies, including Commercial Missions abroad, Export Promotion Councils, Commodity Boards/Authorities, and Industry Associations. This ensures corrective measures are taken as needed to enhance export performance.
Measures to Maximize Domestic and Global Reach
To maximize growth in domestic markets and expand global reach, the government has implemented a range of measures. These include initiatives like Pradhan Mantri Gati Shakti, National Logistics Policy, National Industrial Corridor Development Programme, GIS-enabled Land Bank (India Industrial Land Bank – IILB), and an Industrial Park Rating System (IPRS). Other initiatives like Productivity Linked Incentive (PLI), Make In India, Startup India, One District One Product, and the National Single Window System are also being promoted.
Promoting E-Commerce Exports
A significant focus within the Foreign Trade Policy (FTP) of 2023 is on promoting e-commerce exports. A new chapter within FTP 2023 has been introduced to bring e-commerce exporters under various export promotion schemes of the Government. This includes outreach events held in collaboration with stakeholders like e-commerce platforms, government departments, banks, and industry associations. The aim is to boost e-commerce exports, particularly focusing on goods identified from districts under the Districts as Export Hubs initiative.
Union Minister’s Statement
The information on these initiatives was provided by Smt. Anupriya Patel, the Union Minister of State for Commerce and Industry, in a written reply in the Lok Sabha on December 20, 2023. You can access the full press release for more details here.