Measures taken by Government to Boost Exports

The Government has taken the following measures to boost exports and reduce trade deficit:

i. Foreign Trade Policy (2015-20) extended upto 31-03-2023.

ii. Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended upto 31-03-2024.

iii. Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme.

iv. Rebate of State and Central Levies and Taxes (RoSCTL) Scheme to promote labour oriented textile export has been implemented since 07.03.2019.

v. Remission of Duties and Taxes on Exported Products (RoDTEP) scheme has been implemented since 01.01.2021.

vi. Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase Free Trade Agreement (FTA) utilization by exporters.

vii. 12 Champion Services Sectors have been identified for promoting and diversifying services exports by pursuing specific action plans.

viii.Districts as Export Hubs has been launched 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.

ix. Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.

x. 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 has been provided by Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel said in reply to a parliamentary question 16 December 2022.