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The Government has taken various proactive measures aimed at enhancing domestic capacities, boosting exports, diversifying supply chains, exploring alternate sources of imports and fostering economic resilience. Several key initiatives and policy measures undertaken by the Government to boost exports, attract investments and to promote ease of doing business from time to time are as follows, according to the Ministry of Commerce and Industry statement.
The Foreign Trade Policy, effective from April 1, 2023, aims to integrate India more effectively into the global market, enhance trade competitiveness, and establish the country as a reliable trade partner. A total of 65 Export Facilitation Centres (EFCs) have been established across the country to provide mentoring and handholding support to exporters, particularly MSMEs, in exporting their products and services to foreign markets. Assistance is being provided through various schemes to promote exports, including the Trade Infrastructure for Export Scheme (TIES) and the Market Access Initiatives (MAI) Scheme. The Rebate of State and Central Levies and Taxes (RoSCTL) Scheme has been implemented since March 7, 2019, to support labour-oriented exports in specific textile sectors, said the statement. The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme has been in place since January 1, 2021, and was extended to steel, pharma, and chemical sectors from December 15, 2022, to enhance their export competitiveness. Currently, 10,642 tariff lines (8-digit ITC(HS) Codes) fall under this scheme, with a budget allocation of Rs16,575 crores for the financial year 2024-25. The benefits of the RoDTEP scheme have also been extended to exports from Domestic Tariff Area (DTA) units until September 30, 2025. A Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase the utilization of Free Trade Agreements (FTAs) by exporters. The Districts as Export Hubs initiative has been introduced to identify export-potential products in each district, address export bottlenecks, and support local exporters and manufacturers in generating employment. The government has also launched the Trade Connect e-Platform to act as an information and intermediation platform for international trade, connecting Indian Missions abroad with officials from the Department of Commerce and other organizations to offer comprehensive services to exporters. The role of Indian missions abroad has been strengthened to promote India's trade, tourism, technology, and investment goals, with regular monitoring of export performance in collaboration with Commercial Missions, Export Promotion Councils, Commodity Boards/Authorities, and Industry Associations to take corrective measures as needed. With the evolving trade scenario, India is advancing towards Preferential/Free Trade Agreements (PTA/FTA), aimed at reducing or eliminating customs tariffs and non-tariff barriers on significant trade items among member countries. Currently, India is a participant in 13 FTAs and 9 PTAs, while also engaging in negotiations with the EU, the UK, and Oman. This information was given by the Minister of State for the Ministry of Commerce & Industry, Jitin Prasada, in a written reply in the Lok Sabha today. (ANI)
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