Coronavirus Outbreak: Commerce ministry lists steps to support exporters as industry expresses fears of huge job losses
The commerce ministry said that it has provided several relaxations/extensions of various compliance deadlines to address Corona pandemic related hardships of exporters.
Exports growth to be in double digits this fiscal despite challenging situation: Commerce Secretary Anup Wadhawan
Exports growth of the country in the current fiscal is likely to be in double digits despite the challenging situation both on the external and internal fronts, Commerce Secretary Anup Wadhawan said on Wednesday
The current policy will end in March 2020. The new five-year foreign trade policy (2020-25) is expected to be released in September this year
Exporters are likely to get incentives based on parameters like research and development, product-specific clusters and production pattern under a five-year foreign trade policy (FTP) to be released later this year
Centre, states, industry representatives to discuss ways to boost export on 10 Jan; Suresh Prabhu to chair meet
Since 2011-12, India's exports have been hovering at around $300 billion. During 2017-18, the shipments grew by about 10 percent to $303 billion.
Foreign trade policy has been amended "to allow export of gold idols (only gods and goddess) of 8 carats and above (up to 24 carats) from domestic tariff area," Directorate General of Foreign Trade (DGFT) has said in a notification.
Foreign trade policy review: India should address problems of competitiveness urgently, set an export target
A review of foreign trade policy without setting an export target is a bit like a finance minister working on a budget without targeting a short-term or long-term GDP growth rate.
The revised FTP policy focuses on the goal of exploring new markets and new products as well as on increasing India's share in the traditional markets and products.
Foreign trade policy review, to be unveiled later on Tuesday, may accord special priority to improving logistics for trade to help bring down the costs
Mid-term review of foreign trade policy soon; will evaluate export of goods and services, says Prabhu
Five-year foreign trade policy provides a framework for creation of employment and increasing value addition
The high court had, on 20 July, stayed the warrant issued by the lower court in Chennai against Sushmita Sen
India-Singapore Trade forum also higlighted the need for local manufacturers and exporters to diversify more to boost shipment globally
The textile sector has been granted duty scrips of 2 per cent only for mainstream cotton textile products
Indeed, like all great-sounding policies, this forward looking Foreign Trade Policy could also trip up on the implementation front
Modi's Make in India programme seems to be the backbone of the trade policy
The FTP also seeks to establish an Export Promotion Mission to provide an institutional framework to work with state governments to boost India's exports.
The policy said several initiatives are under way for the simplification of procedures and digitization of various processes involved in trade transactions.
The export commissioner would help in ensuring easing of bottlenecks and development of infrastructure through appropriate allocation of plan resources
The current policy provided fiscal incentives including that of interest subsidy and other duty neutralisation schemes.
Many more IT companies will now be able to launch their own SEZs. Previously, only the largest IT players could have their own IT SEZs given the capital required to buy 25 acres land