New Delhi, June 27: Reaching a new peak of more than half a trillion dollars for the first ever time in 2018-19, India has marked its global trade exports at 2.1 per cent and imports at 2.6 per cent, where exports have been growing on a regular basis since 2016-17.
This is after the Centre has taken various key measures for promotion of exports. Rationalising the earlier export promotion schemes for improving export of goods and services, duty credit scrips issued were made fully transferable with the introduction of a new Foreign Trade Policy.
Various measures for improving ease of doing business were also taken where India’s rank in World Bank ‘Ease of doing business’ ranking improved from 142 in 2014 to 77 in 2018 with the rank in ‘trading across borders’ moving up from 122 to 80.
“The Centre has formulated a detailed action plan which is updated regularly based on the feedback from the exporting community, the Export Promotion Councils and other industry associations. State Governments have also been requested to develop an Export Strategy for the State keeping in view the state specific opportunities and challenges”, said Commerce Minister Piyush Goyal on Wednesday.
The Board of Trade and the Council for Trade Development and Promotion provide a platform for all the stakeholders, including State governments to discuss the issues impacting exports.