From 20th to 18th, India's position as global exporter escalates
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New Delhi, Mar 17: India’s share in world merchandise exports remained constant at 1.7 per cent in 2017, 2018 and 2019. However, India’s rank as an exporter has improved from 20th position in 2017 to 18th position in 2019, according to the latest available WTO. The statistical change indicates the increasing credibility and demand of Indian products in the world market.
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The central govt has undertaken various initiatives and schemes, targeting various fields, to provide world market for Indian industries and farmers. A comprehensive 'Agriculture Export Policy' is under implementation, which aims to provide an impetus to agricultural exports related to agriculture, horticulture, animal husbandry, fisheries and food processing sectors. A central sector scheme ‘Transport and Marketing Assistance for Specified Agriculture Products’ for providing assistance for the international component of freight, to mitigate the freight disadvantage for the export of agriculture products, and marketing of agricultural products, is also currently under implementation.
The Department of Commerce has initiated several schemes to promote exports, including exports of agricultural
products, such as the Trade Infrastructure for Export Scheme (TIES), Market Access Initiatives (MAI) Scheme and similar others. In addition, assistance to the exporters of agricultural products is also available under the Export Promotion Schemes of Agricultural and Processed Food Products Export Development Authority (APEDA), Marine Products Export Development Authority (MPEDA), Tobacco Board, Tea Board, Coffee Board, Rubber Board and Spices Board. Promoting districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters and manufacturers to generate employment in the district is also an initiative undertaken by the centre.
India’s Merchandise exports have risen from USD 275.85 Billion in 2016-17 to USD 313.36 Billion in 2019-20 which is an increase of USD 37.51 Billion in the past three years. According to the recent release of the Ministry of Commerce and Industry, the Union Budget for 2021-22 extensively and comprehensively envisages several initiatives aimed at enhancing India’s overall competitiveness and manufacturing capacities, which would enable growth, diversification and technological enhancement of India’s exports. These cover both ease of doing business in the area of approvals and procedures, and the physical environment for investment including the creation of robust infrastructure and logistics.
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