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Measure for Promoting Export

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Submitted By pranshuchaudhary
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Measures for Promoting Exports in the Short and Medium Terms

Mainstream
India has emerged victorious in the recent recession, which started in the US and engulfed the whole world in a short span of time. India could be able to secure respectable rates of growth even post-crisis years (except last two years 2012-13 and 2013-14), which were the second highest in world after China. The recent revision has improved the GDP growth rates of the last three years as well, though it raises the suspicion about its accuracy owing to opposite evidences at other fronts.
This was mainly because of the domestic-led demand of the Indian economy and stimulus measures initiated by the government at the fiscal and monetary policy levels. However, the exports of India suffered a great deal as a result of the sagging demand in the world economy in general and its main trading partners’ economies in particular. During 2015-16, India's exports of goods shrank by nearly a quarter in September from a year ago, falling for a 10th straight month and threatening Prime Minister Narendra Modi's goal of boosting economic growth through manufacturing. "We see no signs of revival in exports in the near future," said Ajay Sahai, director general of the Federation of Indian Export Organisations. "We will be lucky if exports could even touch $265 billion to $270 billion for the whole year." This is in-spite of the slew of measures to boost up the exports. The last measure to promote the exports included the concession granted to exporters on loans meant for exports . Other schemes include Merchandise Exports From India Scheme( MEIS), Services Exports From India Scheme (SEIS), Duty Exemption and Remission Schemes, EPCG schemes and other schemes .
However, much more is desirable to promote exports not only in this crisis time but also for the long- term. Though the World Trade…...

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