Question

Important issues crucial for export promotion that need to be addressed in india's trade policy

Answer 1

Export Promotion Policies in India
Government of India has liberalized the schemes for export oriented units and export processing Zones. Agriculture, Horticulture, poultry, fisheries and dairies have been included in the export oriented units. Export processing zones have been allowed to export through trading and star trading houses and can have equipment on lease. These units have been allowed cent percent participation in foreign equities.

Export Promotion Schemes

Foreign Trade Policy 2015-20 and other schemes provide promotional measures to boost India’s exports with the objective to offset infrastructural inefficiencies and associated costs involved to provide exporters a level playing field. Brief of these measures are as under.

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Export Promotion Policies in India

JAGRAN JOSH NOV 30, 2015 17:13 IST

Government of India has liberalized the schemes for export oriented units and export processing Zones. Agriculture, Horticulture, poultry, fisheries and dairies have been included in the export oriented units. Export processing zones have been allowed to export through trading and star trading houses and can have equipment on lease. These units have been allowed cent percent participation in foreign equities.

Export Promotion Schemes

Foreign Trade Policy 2015-20 and other schemes provide promotional measures to boost India’s exports with the objective to offset infrastructural inefficiencies and associated costs involved to provide exporters a level playing field. Brief of these measures are as under:

A. Exports from India Scheme

i. Merchandise Exports from India Scheme (MEIS)

Under this scheme, exports of notified goods/ products to notified markets as listed in Appendix 3B of Handbook of Procedures, are granted freely transferable duty credit scrips on realized FOB value of exports in free foreign exchange at specified rate (2-5%). Such duty credit scrips can be used for payment of custom duties for import of inputs or goods, payment of excise duty on domestic procurement, payment of service tax and payment of custom duties in case of EO default.Exports of notified goods of FOB value upto Rs 25, 000 per consignment, through courier or foreign post office using e-commerce shall be entitled for MEIS benefit.

Answer 2

India's trade policy has been undergoing a large number of amendments since independence.However, it still suffers from various deficiencies and they are

a) Trade Barriers

b) MFN Status

c) Export Duties

d) Quality of Products

e) Absence of New Markets

f) Absence of Single window for Export Procedure.