The Ministry of Commerce and Industry vide its notification dated 4th August 2021 has taken various measures for promoting exports in order to strengthen the Indian industry through “ease of doing business” for improving the business environment and attracting foreign investments
The key schemes and interventions are as follows: –
- The Foreign Trade Policy has been extended upto 30.09.2021 to provide a stable regime during the Covid-19 pandemic and has extended the Rebate of State and Central Levies and Taxes (RoSCTL) Scheme for apparel and made-up exports till March 2024.
- Schemes such as the Advance Authorization Scheme and the Export Promotion Capital Goods (EPCG) Scheme are being implemented to enable duty free import of raw materials and capital goods for export production and a common digital platform for Certificate of Origin (CoO) has been launched to increase Free Trade Agreement (FTA) utilization by exporters.
- In order to leverage the full export potential of our vast country, Districts are being promoted as Exports Hubs by identifying products and services with export potential in each district, addressing bottlenecks for exporting these products/services and supporting such local exporters/manufactures through institutional and strategic interventions. District specific export action plans for 478 districts have been prepared.
- In order to have a coordinated and focused attention on development of export infrastructure, a working group on infrastructure up-gradation has been constituted under National Committee on Trade Facilitation (NCTF) and a National Trade Facilitation Action Plan (NTFAP) has been formulated. This includes measures for improving road and rail connectivity to ports and smart gates at sea ports.
Further to make domestic manufacturing globally competitive and to create global champions in manufacturing, Production Linked Incentive (PLI) Schemes in 13 sectors are being implemented. The Government has initiated a review of some of the existing Free Trade Agreements (FTAs) to maximize its export potential to benefit the domestic industry as well as to make them more user friendly, simple and trade facilitative.
