CARGOCONNECT-MAY23 - Flipbook - Page 11
n Double Weightage
for Fruits and Vegetables
Exporters
able to avail Common Service
Provider (CSP) benefits for
export fulfilment under the
Export Promotion Capital
Goods (EPCG) Scheme.
This move is expected
to boost the exports of
handlooms, handicrafts,
and carpets, which are the
mainstay of these towns’
economies.
The existing 39 TEEs
have been identified based
on their export performance
and potential, and the new
additions are expected to
contribute significantly to
India’s export growth.
n E-commerce
set for
new Pivot
The Foreign Trade Policy
(FTP) 2023 recognises the
potential of e-commerce
exports and has introduced
policy interventions to facilitate the growth of this sector.
The FTP outlines a
roadmap for establishing
e-commerce hubs and
related elements such as
payment reconciliation,
book-keeping, returns policy,
and export entitlements. The
consignment-wise cap on
e-commerce exports through
courier has been raised
from `5 lakhs to `10 lakhs
in the FTP 2023, which is
expected to boost the exports
of small and medium-sized
e-commerce enterprises.
Various estimates suggest
that e-commerce exports
have the potential to reach
US$200 to US$300 billion
by 2030, and the policy measures introduced under FTP
2023 are expected to help
achieve this goal.
Other key initiatives
n Ease
of Doing Business
The Foreign Trade Policy (FTP)
for 2023-28 in India aims to
simplify the approval process
for businesses, reduce transaction
costs, and introduce e-initiatives.
By introducing online approvals without physical interfaces,
reducing user charges for MSMEs,
introducing e-certificates of origin, and paperless filing of export
obligation discharge applications,
the FTP will greatly simplify the
approval process and reduce
transaction costs for businesses.
These initiatives are a step in the
right direction towards making
India a more attractive destination for foreign investment and
promoting economic growth.
n Districts
as Export Hubs
The Districts as Export Hubs
Initiative proposed under the FTP
2023-28 aims to boost India’s foreign trade through decentralised
export promotion. The initiative proposes various strategies
such as creating institutional
mechanisms, identifying potential
export products, building capacity
for new exporters, conducting
export promotion outreach programs, addressing infrastructure
and logistics bottlenecks, and
converging ongoing schemes to
support these initiatives.
The implementation of these
strategies is expected to create an
enabling environment for exports
at the district level, which will
lead to increased foreign trade
and economic growth for India.
It is hoped that the initiative will
encourage entrepreneurs and
small businesses to explore the
potential of exports, thereby
contributing to the overall growth
of the Indian economy.
In conclusion, the Districts as
Export Hubs Initiative is a step in
the right direction towards achieving the goal of boosting India’s
foreign trade through decentralised
export promotion. It is important
that the initiative is implemented
effectively to realize its potential
in promoting exports and driving
economic growth in India.
Facilitating E-commerce
Exports
n
The Foreign Trade Policy (FTP)
2023-28 has introduced measures to facilitate e-commerce
exports in India. E-commerce
exporters will now be eligible for
the same benefits as traditional
exporters, and necessary IT
systems will be enabled within
the next six months to streamline
e-commerce export facilitation.
Dak Ghar Niryat Kendras and
designated hubs with warehousing facilities will also be operationalised to help e-commerce
aggregators for easy stocking,
customs clearance, and returns
processing. Processing facilities
will also be allowed for last-mile
activities such as labelling, testing, repackaging, etc.
This will help reduce the
cost and time involved in the
logistics of e-commerce exports.
These initiatives will help boost
India’s exports, contribute to the
country’s economic growth, and
help small and medium-sized
businesses, artisans, weavers,
craftsmen, and MSMEs reach
international markets.
The Foreign Trade Policy (FTP)
2023-28 has announced initiatives
to boost manufacturing in India.
These initiatives include the addition of the PMMITRA scheme to the
EPCG scheme, exemption for the
dairy sector, eligibility for reduced
export obligation requirements for
green technology products, selfdeclaration basis for the Apparel
and Clothing sector, and extension
of the self-ratification scheme.
Besides that, fruits and vegetables
exporters are being included for
double weightage for counting
export performance under the
eligibility criteria for Status House
certification. This move will provide
a significant boost to the fruits and
vegetables export sector, which is
an important contributor to the
Indian economy.
The above outlined initiatives are expected to encourage
investment, promote sustainable
manufacturing practices, simplify
processes, and provide support to
key sectors. The implementation
of these initiatives is expected to
contribute to the Make in India initiative and promote India’s position
as a leading manufacturing hub.
n Streamlining
SCOMET
Licensing Procedure
The Foreign Trade Policy (FTP)
2023-28 emphasises streamlining
the licensing process for Special
Chemicals, Organisms, Materials,
Equipment and Technologies
(SCOMET) to promote ease of
understanding and compliance by
industry. Simplifying the licensing of certain SCOMET items
will make it easier for industry
to obtain licenses for these items.
This is in line with India’s international commitments under
various export control regimes.
The policy aims to consolidate
all policies related to the export
of dual-use high-end goods and
technology items under SCOMET
at one place to simplify the process
and make it easier for industry
compliance and to make India more
competitive in the global market.
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