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New Foreign Trade Policy . #ForeignTradePolicy . #NeedOfForeignTradePolicy

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  For period – 2015-2020

  It provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the Make in India.

  Focus – support both the manufacturing and services sectors, with a special emphasis on improving the ‘ease of doing business’

 

Special features of the FTP:

2 new schemes introduced –

  MEIS (Merchandise Exports from India scheme) – for export of specified goods to specified markets.

  Services Exports from India Scheme (SEIS) – for increasing exports of notified services.

  Procurement of capital goods from indigenous manufacturers under the EPCG (Export Promotion Capital Goods) scheme by reducing specific export obligation to 75% of the normal export obligation. This will promote the domestic capital goods manufacturing industry.

  Measures to boost exports of defense and hi-tech items have been taken. E- commerce exports of handloom products, books/periodicals, leather footwear, toys and customized fashion garments through courier or foreign post office would also be able to get benefit of MEIS. This will capitalize India’s strength in these area, increase exports and provide employment.

 Extension of benefits of both the reward schemes (MEIS and SEIS) to units located in SEZs will give a boost to exports from SEZs and also to development and growth of SEZs in country.

 Trade facilitation and enhancing the ease of doing business are the other major focus areas—24*7 customs clearance, paperless environment, single window for customs, aayat-niryat etc. (already covered above)

 Number of steps (like fast track clearance facility, sharing of infrastructure facilities, etc.) had been taken for encouraging manufacturing and exports under 100 % schemes.

 MSME Clusters-108 clusters have been identified for focused interventions to boost exports.

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