Reviving and Accelerating India’s Exports: Policy Issues and
Suggestions
· New Prescriptions to
Revitalise Ailing Exports
Working
Paper No. 1/2017-DEA
Dr.
H.A.C. Prasad, Dr. R. Sathish, Mr. Vijay Kumar, Mr.
Salam S. Singh, Mr. Rajesh Kumar Sharma
January
2017, Department of Economic Affairs, Ministry of Finance, Govt. of India
Dr.
HAC Prasad, Sr. Economic Advisor in Finance Ministry and well known expert on
export has given his take on the export scene. He has spoken on the subject
some three years ago in 2014. This edition of his research are specially relevant in the wake of continuous crashing trend
in exports with the assistance of four other officers of Economic Division
titled. It is a blue print for export revival on the lines of the erstwhile
Alexander Committee and Tandon Committee
recommendations on exports.
World
trade volume growth fall to a record low of 1.9% over the last eight years
since the 2009 financial crisis.
This
paper based on desk research and field visits has major findings and
recommendations to bring India forward.
· Scope
to rationalise with slash in Export Promotion Schemes
as GST will move the system refund of actual duties suffered.
· Trade
Facilitation in procedures and documents and infrastructure is well below
global standards.
· FDI
linked and Value Added Exports particularly high-tech exports are poor.
· India
should play a proactive Tariff reform role at WTO since FTA are on the wane.
·
Besides the above many
sector-specific policies and issues have been examined in this paper.