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Export Targets

Feb 11,2021

As per World Bank data, some of the major sectors that showed a decline in global demand during 2019 (latest data available) include chemicals, fuels, textiles & clothing, machinery & electricals, metals and transportation. Of these, India’s exports showed a decline in respect of fuels, textiles & clothing and metals during the same period.

The following are some of the key steps taken by Government to increase exports:

Foreign Trade Policy (2015-20) extended by one year, i.e., upto 31-3-2021 due to the COVID-19 pandemic situation.
Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended by one year, i.e., upto 31-3-2021.
A new Scheme, Remission of Duties and Taxes on Exported Products (RoDTEP), has been launched with effect from 01.01.2021.
Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters.
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.
Promoting and diversifying services exports by pursuing specific action plans for the 12 Champion Services Sectors.
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.
Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.
Package announced in light of the Covid pandemic to support domestic industry through various banking and financial sector relief measures, especially for MSMEs, which constitute a major share in exports.
 

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Hardeep Singh Puri, in a written reply in the Lok Sabha yesterday.