Steps taken by the government to boost exports from the Manufacturing Sector

Major commodity-group wise data on merchandise exports in last five years is at Annexure.

The Government has taken the following key steps to boost exports

1. The mid-term review of the current Foreign Trade Policy (2015-20) was carried out in December 2017.
2. Foreign Trade Policy (2015-20) extended by one year i.e. upto 31-3-2021 due to the COVID-19 pandemic situation.
3. Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended by one year i.e. upto 31-3-2021.
4. A new Scheme, Remission of Duties and Taxes on Exported Products (RoDTEP), has been launched.
5. Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters.
6. 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.
7. Promoting and diversifying services exports by pursuing specific action plans for the 12 Champion Services Sectors.
8. 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.
9. Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.
10. 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.

Annexure

India’s major commodity groups-wise export during last five years

Value in US$ millions

Source: DGCI&S, Kolkata

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 Rajya Sabha.