Name: Joanna Rathod Class: SYBBA-IB

Roll No: 51 Sub: Import Export Procedure

ASSIGNMENT

Q] Discuss in detail the measures taken by Government of India to promote

A] To boost the exports from India, Finance Minister Nirmala Sitharaman declared
following 6 measures/steps to increase exports replying to debate during union budget.

1) RoDTEP (compliant with WTO rules) replacing :MEIS RoDTEP stands for Remission of
Duties and Taxes on Export Products. It is a new scheme that is applicable with effect from
January 1st, 2021, formed to replace the existing MEIS (Merchandise Exports from India
Scheme). The scheme will ensure that the exporters receive the refunds on the embedded taxes
and duties previously non-recoverable. The scheme was brought about with the intention to boost
exports which were relatively poor in volume previously.

2) Enhanced limit under priority sector lending: The changes related to loans that can be
classified as priority sector lending include: Higher credit limit up to Rs 5 crore from Rs 2 crore
for Farmers Producers Organizations and Farmers Producers Companies that market their
produce at a pre-determined price. Loans up to Rs 50 lakh for FPOs and FPCs against
pledge/hypothecation of agricultural produce (including warehouse receipts) for a period no
Scheme for refunding duties, taxes to exporters, too, to be brought out

3)Nirvik(niryat Rin Vikas yojna) for giving insurance: Exporters have been assured that the
new export credit insurance scheme, NIRVIK (Niryat Rin Vikas Yojana), offering lower
premiums, higher insurance cover and faster claim settlement, will be implemented in FY20-21.

Another scheme, for reimbursing some input duties to exporters, that was initially to be
implemented from January 1, 2019, will now be announced some time this year, said Finance
Minister Nirmala Sitharaman in the Budget, but she didn’tspecify an exact date for the same.
Export hubs-The FM said institutional mechanisms are being created for developing each district
as an export hub, and proposed an allocation of ₹27,300 crore for industry and commerce in
2020-21.

4) Providing export subsidy of 10,448 rs/tonne to sugar mills: The government on Wednesday
approved a subsidy of Rs 3,500 crore to sugar mills for the export of 60 lakh tonnes of sweetener
during the ongoing marketing year 2020-21 as part of its efforts to help them clear outstanding
dues to sugarcane farmers.

Briefing media after the meeting, Information and Broadcasting Minister Prakash Javadekar said
the Cabinet Committee on Economic Affairs (CCEA) has approved a subsidy of Rs 3,500 crore
on exports of 60 lakh tonnes of sweetener and the subsidy amount will directly be given to
farmers.

The decision will benefit 5 crore [Link] the previous marketing year 2019-20 (October-
September), the government provided a lump sum export subsidy of Rs 10,448 per tonne, costing
the exchequer Rs 6,268 crore.

5) E-commerce for handicraft industry : The importance of handicrafts in India can hardly be
[Link] is the country’s largest source of employment after agriculture, employing
millions, many of them from the poorer sections of society such as the Dalits and women. But
for all the good it does, the handicraft sector suffers from major ills, including difficulty in
marketing the products to the global audience. The handicrafts market is worth about $100
billion worldwide. Even more interestingly, this sector has tremendous potential for exports.

Indian exports of handicrafts for the financial year 2013-14 were an impressive $3.8 billion,
having grown at a rate of 7% per year since 2001. Indian handicraft items have both functional
and aesthetic value, which is why its demand globally remains high. The finishing and the
packaging could be improved. The handicraft industry is poised to grow in the years as the
increasing prosperity of Indians will see ever larger numbers buy handicrafts items. Ecommerce
now promises to not just make sure these beautiful products can reach customers anywhere in the
world, but also ensure that the artisans making them earn better for their labours. This is the
ultimate goal of social impact.
6) Amendment in SEZ law,now trusts are allowed to enter SEZ : The Rajya Sabha on

Thursday cleared the Special Economic Zones (Amendment) Bill, paving the way for trusts to

set up units in such areas. The Bill will replace the SEZ (Amendment) Ordinance, 2019, that was

promulgated in March. It is now set to become a law after receiving the President’s nod.

SEZs are special demarcated areas in the country that have different regulations to attract foreign

direct investment (FDI). Such areas are considered outside the customs territory. They are

entitled to various tax incentives to boost manufacturing, promote exports as well as generate

employment.

“The present provisions of the SEZs Act, 2005, do not permit ‘trusts’ to set up units in SEZs.

The amendment will enable trusts to be considered for grant of permission to set up units in

SEZs. The amendments will also provide flexibility to the central government to include in this

definition of a person or any entity that the central government may notify from time to time.

This will facilitate investments in SEZs," the government had earlier said in a statement.

THE ACTIVITIES OF SOME INSTITUTIONS SET UP BY

[Link] INDIAN INSTITUTE OF FOREIGN TRADE (IIFT)

The Indian Institute of Foreign Trade (IIFT) was set up in 1963 by the Government of India as an

autonomous organization to help Indian exporters in foreign trade management and increase

exports by developing human resources, generating, analyzing and disseminating data

andcconductingcresearch.

Address: B-21 Kutub Institutional Area, Mehrauli Road, New Delhi-110016

internationalisation of the Indian economy.

 The primary provider of training and research-based consultancy

in the areas of international business, both for the corporate

sector, Government and the students community.

 An institution with proven capability to continuously upgrade its

knowledge base with a view to servicing the requirements of the Government, trade and

industry through both sponsored and non-sponsored research and consultancy assignments.

EXPORT PROMOTION COUNCILS

Export Promotion Councils are registered as non -profit organizations under the Indian
Companies Act. At present there are eleven Export Promotion Councils under the administrative
control of the Department of Commerce and nine export promotion councils related to textile
sector under the administrative control of Ministry of Textiles. The Export Promotion Councils
perform both advisory and executive functions. These Councils are also the registering
authorities under the Export Import Policy, 2002-2007.

The major functions of the export promotion councils

i. To provide commercially useful information and

ii. To offer professional advice to their members in areas,