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A

PRESENTATION ON
RECENT TRENDS IN INDIA'S
FOREIGN TRADE

SUBMITTED TO: SUBMITTED BY:


DR. MAHAVIR MALIK KANCHAN VERMA
ASSISTANT PROFESSOR ROLL NO:- 39
FOREIGN TRADE POLICY

• Foreign trade policy is the combination of words: foreign trade and policy.
• Foreign trade:- It is the exchange of goods and services between nations. Goods can
be defined as finished products as intermediate goods used in producing other goods,
or as agricultural products and foodstuffs.
• Policy:- Policy is the set of rules and procedures.
• The first foreign trade policy was introduced in the year 1992.
• It is also known as EXPORT IMPORT POLICY or EXIM POLICY.
OBJECTIVES

1) To double the percentage share of global merchandise trade within the next five
years.
2) To act as an effective instrument of economic growth by giving a thrust to
employment generation.
3) To facilitate development of India as a global hub for manufacturing, trading and
services.
RECENT TRENDS IN
INDIA'S FOREIGN TRADE
GST RELATED REFORMS

• GST has been launched w.e.f. 1st of July’ 2017. It incorporates zero rating of exports.
Taxes will not be exported.
• Uniform tax rates and practices across States have led to huge logistics and
transaction cost saving for exporters.
• Issue of working capital blockage of the exporters due to upfront payment of Gst on
inputs have been addressed.
• Merchant exporters have been allowed to pay nominal GST of 0.1% for procuring
goods from domestic suppliers for export.
REPOSITIONING EXPORT STRATEGY

• Continued support for multilateral rule based global trade.


• Continued efforts to integrate with major regions and expand markets in new
regions.
• Grow trade through focus on new markets and product line.
• Exploring new markets and new products as well as increasing India’s share in the
traditional markets and products.
• Increasing ease of trading across borders through trade facilitation.
• Increasing farmers incomes through a focused policy for agricultural exports.
ONLINE COMPLAINT REGISTRATION AND
MONITORING SYSTEM
• An EDI Help Desk is available to assist the exporters in filing online applications on
the DGFT portal and resolving other EDI related issues.

• For assistance an email may be sent at dgftedi@nic.in or Toll Free number


1800111550 can be used.

• Help desk facility is also operational at the 4 DGFT Zonal Offices.


ISSUE OF E-IEC

• Importer Exporter Code (IEC) number is mandatory for export/import from/to India
as detailed in paragraph 2.05 of this Policy.
• DGFT has recently introduced the facility of issuing Importer Exporter Code in
electronic form (e-IEC).
• For issuance of e-IEC an application can be made online on DGFT website i.e.
http//:dgft.gov.in.
• Applicants can upload the documents and pay the required fee through Net banking.
E-BRC (BANK REALIZATION CERTIFICATE)

• It has enabled DGFT to capture details of realization of export proceeds directly from
the banks through secured electronic mode.
• This has facilitated the implementation of various export promotion schemes without
any physical interface with the stake holders.
EXPORTER IMPORTER PROFILE

• An electronic procedure has been created to upload various documents in exporter


importer profile.
• Once uploaded, there will be no need to submit these documents/ copies of these
documents to Regional Authority repeatedly with each application.
• The number of mandatory documents required for exports and imports of goods
from/into India have been reduced to three each, as prescribed under paragraph
2.06 of FTP.
BOOST TO “MAKE IN INDIA”

• Specific export obligation under EPCG scheme, in case capital gods are procured
from indigenous manufacturers, which is currently 90% of the normal export
obligation has been reduced to 75%, in order to promote domestic capital goods
manufacturing industry.
• Higher level of rewards under MEIS for export items with high domestic content and
value addition.
TWO NEW SCHEMES: MEIS AND SEIS

• FTP 2015-20 introduces two new schemes, namely ‘Merchandise Exports from India
Scheme (MEIS)’ for export of specified goods to specified markets and ‘Services
Exports from India Scheme (SEIS)’ for increasing exports of notified services.
• Duty credit scrips issued under MEIS and SEIS and the goods imported against these
scrips are fully transferable.
• For grant of rewards under MEIS, the countries have been categorized into 3 Groups,
whereas the rates of rewards under MEIS range from 2 per cent to 5 per cent. Under
SEIS the selected Services would be rewarded at the rates of 3 per cent and 5 per
cent.
ENCOURAGING EXPORTS BY MSME(S)

• To provide a momentum to the services trade, the seis incentives have been
increased by 2% for notified services.
• The validity period of the Duty Credit Scrips has been increased from 18 months to
24 months to enhance their utility in GST.
• GST sale for transfer/ sale of scrips has been reduced to zero from the earlier rate of
12%.
• MEIS incentives for two sub sectors of textiles i.e ready made garments and made
ups increased from 2% to 4%.
DGFT SERVICE FOR TRADE FACILITATION

• Contact @ DGFT service for complaint resolution has been activated on the DGFT
website for exporters and importers for resolving all foreign trade related issues.
• Exporters/ Importers can also voice their concerns/ suggestions on DGFT portal at
Contact @ DGFT.
• Exporters/ Importers can track the status through the assigned reference number.
• Envisages high level monitoring of disposal of such references.
EASE OF TRADING ACROSS BOARDERS

• Focus on improving Ease of Trading across Borders for exporters and importers.
• Professional team is engaged to handhold, assist and support, accessing export
markets and meeting regulatory requirements.
CONCLUSION

• FTP would reduce export obligations by 25% and give boost to domestic
manufacturing.
• FTP benefits from both MEIS and SEIS will be extended to units located in SEZs.
• Industrial products to be supported in major markets at rates ranging from 2% to 3%.
• Branding campaigns planned to promote exports in sectors where India has
traditional strength.
• Business services, hotel and restaurants to gat rewards scrips under SEIS at 3% and
other specified services at 5%.