Exports from India
India’s merchandise exports has increased from 303.53 US$ billion
in 2017-18 to 330. 07 US$ billion in 2018-19, registering a positive growth of 8.75%.
India’s export sector faced many challenges post 2013-14 period due to accentuation
of the global economic / financial crisis. However, exports have been growing on
a secular basis since 2016-17 for almost three years and total exports reached a
new peak of more than half a trillion dollars for the first time in 2018-19. The
sector-wise values of exports for 2018-19 and percentage change over the previous
year 2017-18 are given at Annexure. The Foreign Trade Policy (2015-20), launched
on 1st April 2015, provides a framework for increasing exports of goods
and services as well as generation of employment and increasing value addition in
the country, in line with the ‘Make in India’, ‘Digital India’, ‘Skill India’, ‘Startup
India’ and ‘Ease of Doing Business’ initiatives.
Representations/suggestions are received from trade organizations/export
promotion councils from time to time for promotion of exports which are taken into
consideration as part of the regular ongoing process of review and reform of trade
policies. To promote export, Government has taken following remedial measures including
changes in the export policy:
i.
The Foreign Trade Policy (2015-20), inter
alia, rationalised the earlier export promotion schemes
and introduced two new schemes, namely ‘Merchandise Exports from India Scheme (MEIS)’
for improving export of goods and ‘Services Exports from India Scheme (SEIS)’ for
increasing exports of services. Duty credit scrips issued under these schemes were
made fully transferable.
ii.
A Mid-term Review of the FTP 2015-20 was
undertaken in December, 2017 under which incentives for labour
intensive / MSME sectors were increased by 2% under MEIS.
iii.
A new Logistics Division was created in
the Department of Commerce for integrated development of the logistics sector. India’s
rank in World Bank’s Logistics Performance Index was moved up from 54 in 2014 to
44 in 2018.
iv.
Interest Equalization Scheme on pre and
post shipment rupee export credit was introduced from 01.04.2015 providing interest
equalisation at 3% for labour
intensive / MSME sectors. The rate was increased to 5% for MSME sectors with effect
from 02.11.2018 and merchant exporters were covered under the Scheme with effect
from 02.01.2019.
v.
Measures to increase procurement of capital
goods from indigenous manufacturers under the Export Promotion Capital Goods (EPCG)
scheme by reducing specific export obligation from 90 percent to 75 percent of the
normal export obligation.
vi.
Issue
of Advance Authorisation to allow duty free import of inputs for export product
within a specified timeline.
vii. For improving ease of doing business, online issuance
of Importer Exporter Codes (IEC) has been started. India’s rank in World Bank ‘Ease
of Doing Business’ ranking was improved from 142 in 2014 to 63 in 2019 with the
rank in ‘trading across borders’ moving up from 122 to 80.
viii. A new scheme called “Trade
Infrastructure for Export Scheme (TIES)” was launched with effect from 1st April
2017 to address the export infrastructure gaps in the country.
ix.
A new scheme called Scheme for Rebate of
State and Central Taxes and Levies (RoSCTL) covering export
of garments and made-ups was notified on 7.3.2019 providing refund of duties/taxes
at higher rates.
x.
A
comprehensive “Agriculture Export Policy” was launched on 6th December, 2018 with
an aim to double farmers’ income by 2022 and provide an impetus to agricultural
exports.
xi.
A new scheme called “Transport and Marketing
Assistance” (TMA) has been launched for mitigating disadvantage of higher cost of
transportation for export of specified agriculture products.
xii. Government
has introduced a new Scheme for Remission of Duties and Taxes on Exported Products
(RoDTEP) on 13-03-2020 for re-imbursement of taxes/ duties/
levies, which are currently not being refunded under any other mechanism, at the
central, state and local level.
Annexure
India’s
Merchandise Export, sector-wise for 2017-18 and 2018-19
Source: DGCI&S
|
(Value
in US$ Million) |
|||||
|
S. No |
QE Groups |
2017-18 |
2018-19 |
% Change |
|
|
1 |
Engineering Goods |
78696 |
83622 |
6.26 |
|
|
2 |
Petroleum Products |
37465 |
46554 |
24.26 |
|
|
3 |
Gems And Jewellery |
41544 |
40251 |
-3.11 |
|
|
4 |
Organic & Inorganic Chemical |
18508 |
22379 |
20.91 |
|
|
5 |
Drugs And Pharmaceuticals |
17283 |
19147 |
10.78 |
|
|
6 |
Rmg Of All Textiles |
16707 |
16138 |
-3.40 |
|
|
7 |
Electronic Goods |
6393 |
8829 |
38.11 |
|
|
8 |
Cotton Yarn/Fabs./Madeups, Handloom Products Etc. |
10260 |
11215 |
9.31 |
|
|
9 |
Plastic And Linoleum |
6851 |
8607 |
25.64 |
|
|
10 |
Marine Products |
7389 |
6803 |
-7.94 |
|
|
11 |
Rice |
7806 |
7751 |
-0.71 |
|
|
12 |
Man-Made Yarn/Fabs./Madeups Etc. |
4826 |
4981 |
3.19 |
|
|
13 |
Leather And Leather Manufactures |
5289 |
5141 |
-2.80 |
|
|
14 |
Mica, Coal And Other Ores, Minerals
Including Process |
3777 |
4255 |
12.65 |
|
|
15 |
Meat, Dairy And Poultry Products |
4610 |
4364 |
-5.34 |
|
|
16 |
Spices |
3115 |
3322 |
6.65 |
|
|
17 |
Ceramic Products And Glassware |
2132 |
2649 |
24.27 |
|
|
18 |
Iron Ore |
1471 |
1317 |
-10.45 |
|
|
19 |
Fruits And Vegetables |
2513 |
2541 |
1.10 |
|
|
20 |
Handicrafts Excl. Hand Made Carpet |
1823 |
1838 |
0.81 |
|
|
21 |
Cereal Preparations And Miscellaneous
Processed Item |
1417 |
1555 |
9.80 |
|
|
22 |
Carpet |
1430 |
1482 |
3.64 |
|
|
23 |
Oilseeds |
1174 |
1157 |
-1.50 |
|
|
24 |
Tobacco |
934 |
981 |
5.04 |
|
|
25 |
Tea |
837 |
831 |
-0.77 |
|
|
26 |
Oil Meals |
1093 |
1509 |
38.01 |
|
|
27 |
Coffee |
969 |
822 |
-15.10 |
|
|
28 |
Cashew |
922 |
654 |
-29.05 |
|
|
29 |
Jute Mfg. Including Floor Covering |
335 |
325 |
-3.03 |
|
|
30 |
Other Cereals |
249 |
349 |
40.38 |
|
|
31 |
Others |
15705 |
18709 |
19.13 |
|
|
Total Export |
303526 |
330078 |
8.75 |
|
|
This information was given
by the Minister of Commerce and Industry, Piyush Goyal, in a written reply in
the Lok Sabha on18 March 2020.