There Are Signs Of Revival Of Exports: Centre
Patel described the measures taken by the government to boost India’s exports includes the mid-term review (2017) of the Foreign Trade Policy (2015-20).
India’s overall exports (merchandise and services) has increased by 39.74 per cent in 2021-22 (April-October) as compared to the corresponding period of the previous year, said Minister of State in the Ministry of Commerce and Industry, Anupriya Patel, in a written reply in the Rajya Sabha.
Patel described the measures taken by the government to boost India’s exports includes the mid-term review (2017) of the Foreign Trade Policy (2015-20).
“Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme. A Central Sector Scheme –‘Transport and Marketing Assistance for Specified Agriculture Products’–for assisting with the international component of freight to mitigate the freight disadvantage for the export of agriculture products,” she said.
Patel also said that a common digital platform for a certificate of origin has been launched to facilitate trade and increase FTA utilization by exporters. Promoting and diversifying services exports by pursuing specific action plans for the 12 Champion services sectors, she added.
A package was announced in light of the COVID-19 pandemic to support the domestic industry through various banking and financial sector relief measures, especially for MSMEs, which constitute a major share in exports, according to Patel.
