The document provides information on India's Export-Import (EXIM) policy. Some key points:
- The EXIM policy is formulated by the Ministry of Commerce and guides India's foreign trade, particularly export promotion measures.
- It is renewed annually on March 31st. The current policy period is from 2009-2014.
- The policy aims to boost exports, improve trade balance, and earn foreign exchange. Targets include reaching $200 billion in exports by 2010-11.
- It outlines various schemes like duty exemptions, export promotion capital goods scheme, special economic zones, and deemed exports to promote foreign trade and manufacturing competitiveness.
- India's top imports and exports include agricultural
Foreign direct investment (FDI) occurs when a firm invests directly in new facilities in a foreign country. FDI is undertaken to take advantage of lower costs for resources unavailable in the home country. The firm maintains significant control over the foreign operation and can affect managerial decisions. There are several types of FDI including inward FDI into a country and outward FDI from a country. India allows up to 100% FDI under an automatic route in most sectors to encourage economic growth and development.
The document discusses import substitution as a strategy for economic development. It defines import substitution as restricting imports that compete with domestic products in order to promote local production. The objectives of import substitution include promoting domestic industries, generating employment, and improving the balance of payments. While import substitution can increase employment and resilience, the industries may become inefficient without international competition. Effective import substitution requires industries that utilize local resources and demand.
The document summarizes India's export promotion scheme. It outlines various objectives of export promotion such as compensating exporters for high domestic production costs and assisting new exporters. It then describes the organizational setup that supports export promotion through various ministries, councils, institutes, and public sector undertakings. The document also discusses incentives provided to exporters such as duty drawbacks, awards for excellence, and establishment of special economic zones to boost exports.
Balance of payment concept, components and trends shivakumar patil
India recorded a trade deficit of $5.07 billion in March 2016, significantly lower than the $11.39 billion deficit in the same month of the previous year. This is the lowest monthly trade deficit since March 2011. Exports declined 5.47% year-over-year while imports fell 21.56% due to lower oil and non-oil imports. For the entire 2015-2016 fiscal year, India's trade deficit narrowed to $118.5 billion from $137.7 billion in the prior year as exports decreased 15.8% and imports fell 15.28%.
The document provides an overview of India's foreign trade policy and its evolution over different phases since independence. It discusses how trade policy was initially used to restrict imports and promote exports to help domestic industries develop. India's trade policy has liberalized over several phases since the 1950s. Major reforms in 1991 substantially eliminated licensing, quotas, and other controls. The current foreign trade policy (2015-2020) aims to further liberalize and simplify trade while promoting exports. It introduces several schemes like Special Economic Zones to encourage trade and manufacturing.
This document discusses the arguments for and against free trade versus protectionism. It begins by providing context from classical economists who argued for free trade, and the rise of protectionism post-World War II. It then outlines the key arguments for free trade, including specialization, increased prosperity, and competitive pressures. Arguments against free trade include the potential harm to developing economies and domestic industries. The document also discusses the economic and non-economic arguments in favor of protectionism, such as for infant industries, employment, and national defense. Finally, it notes some arguments against protectionism like increased prices and reduced innovation.
The document provides an overview of India's foreign trade, including its composition, direction, and the country's foreign trade policy. It discusses the major commodity sectors for India's exports and imports. It also examines the direction of India's foreign trade in terms of key trading partners and groups. The document then outlines India's foreign trade policy framework, including the objectives and highlights of the Foreign Trade Policy 2015-2020. It discusses the legal framework governing foreign trade and various committees that have shaped trade policy. Finally, it provides context on FERA and its replacement by FEMA in regulating foreign exchange transactions in India.
Foreign direct investment (FDI) occurs when a firm invests directly in new facilities in a foreign country. FDI is undertaken to take advantage of lower costs for resources unavailable in the home country. The firm maintains significant control over the foreign operation and can affect managerial decisions. There are several types of FDI including inward FDI into a country and outward FDI from a country. India allows up to 100% FDI under an automatic route in most sectors to encourage economic growth and development.
The document discusses import substitution as a strategy for economic development. It defines import substitution as restricting imports that compete with domestic products in order to promote local production. The objectives of import substitution include promoting domestic industries, generating employment, and improving the balance of payments. While import substitution can increase employment and resilience, the industries may become inefficient without international competition. Effective import substitution requires industries that utilize local resources and demand.
The document summarizes India's export promotion scheme. It outlines various objectives of export promotion such as compensating exporters for high domestic production costs and assisting new exporters. It then describes the organizational setup that supports export promotion through various ministries, councils, institutes, and public sector undertakings. The document also discusses incentives provided to exporters such as duty drawbacks, awards for excellence, and establishment of special economic zones to boost exports.
Balance of payment concept, components and trends shivakumar patil
India recorded a trade deficit of $5.07 billion in March 2016, significantly lower than the $11.39 billion deficit in the same month of the previous year. This is the lowest monthly trade deficit since March 2011. Exports declined 5.47% year-over-year while imports fell 21.56% due to lower oil and non-oil imports. For the entire 2015-2016 fiscal year, India's trade deficit narrowed to $118.5 billion from $137.7 billion in the prior year as exports decreased 15.8% and imports fell 15.28%.
The document provides an overview of India's foreign trade policy and its evolution over different phases since independence. It discusses how trade policy was initially used to restrict imports and promote exports to help domestic industries develop. India's trade policy has liberalized over several phases since the 1950s. Major reforms in 1991 substantially eliminated licensing, quotas, and other controls. The current foreign trade policy (2015-2020) aims to further liberalize and simplify trade while promoting exports. It introduces several schemes like Special Economic Zones to encourage trade and manufacturing.
This document discusses the arguments for and against free trade versus protectionism. It begins by providing context from classical economists who argued for free trade, and the rise of protectionism post-World War II. It then outlines the key arguments for free trade, including specialization, increased prosperity, and competitive pressures. Arguments against free trade include the potential harm to developing economies and domestic industries. The document also discusses the economic and non-economic arguments in favor of protectionism, such as for infant industries, employment, and national defense. Finally, it notes some arguments against protectionism like increased prices and reduced innovation.
The document provides an overview of India's foreign trade, including its composition, direction, and the country's foreign trade policy. It discusses the major commodity sectors for India's exports and imports. It also examines the direction of India's foreign trade in terms of key trading partners and groups. The document then outlines India's foreign trade policy framework, including the objectives and highlights of the Foreign Trade Policy 2015-2020. It discusses the legal framework governing foreign trade and various committees that have shaped trade policy. Finally, it provides context on FERA and its replacement by FEMA in regulating foreign exchange transactions in India.
The document discusses export promotion in India. It outlines the benefits of exports, procedures for exporting, and policies and schemes implemented by the Indian government to promote exports. It then describes the various institutions that comprise India's export promotion system, including the Department of Commerce, advisory bodies, commodity organizations, service organizations, government trading organizations, and state export promotion agencies. The goal of India's institutional framework is to support and assist exporters at all levels of experience.
Foreign direct investment (FDI) refers to investment made by a company or entity located in one country into business interests located in another country. There are several types of FDI including horizontal FDI where a company operates the same activities abroad as at home, and vertical FDI where different stages of production are located in different countries. FDI can be motivated by seeking resources, markets, efficiencies, or strategic assets. It provides benefits like job creation and technology transfer but may also displace domestic companies. India allows FDI through an automatic route without approval for some sectors, and through a government approval process for other sectors regulated for national interest.
The success of export promotions can be judged from the growth of exports and the dynamism of the export sector. An effective export promotion should compensate for the disadvantages of the national exporters and should make the export business profitable enough to lure entrepreneurs to this sector.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
The document discusses the economic environment and its impact on business. It defines the economic environment as factors such as economic conditions, economic system, policies, and international economic factors that influence business operations. It describes the primary, secondary, tertiary and quaternary stages of economic activity and how environmental factors like economic, social, political, technological, and demographic conditions affect businesses.
Tariff barriers are import duties that create obstacles to international trade by limiting the flow of imported goods. Non-tariff barriers also restrict imports but through means other than tariffs, such as quotas, import licensing requirements, product standards, and government procurement policies. International commodity agreements aim to stabilize prices of primary commodities through quotas, buffer stocks maintained by international organizations, or bilateral contracts between major importers and exporters.
The document summarizes various Indian organizations that promote foreign trade and exports:
- ITPO holds international trade fairs in India and has trade centers in major cities to facilitate business meetings and conferences. IIFT is a prestigious business school focused on foreign trade education and research. ICA and FIEO represent traders and exporters respectively.
- EIC, ECGC, and SMERA help Indian companies with quality inspection, export credit insurance, ratings, and financing. CGTMSE provides credit guarantees for MSME loans. DGFT regulates and promotes India's foreign trade.
This document discusses foreign direct investment (FDI) in Bangladesh and other South Asian countries. It outlines the types and determinants of FDI, and both the benefits and costs of FDI for host countries. The document then analyzes FDI policies, incentives and trends in Bangladesh, India, Nepal, Pakistan, Sri Lanka, Maldives, Bhutan, and compares them. It identifies challenges to attracting FDI in Bangladesh and provides recommendations to improve FDI inflows, including developing infrastructure, streamlining procedures, ensuring political stability, and privatization.
International Business Dynamics by Nagarjun Reddy module 3PNagarjunReddyReddy
The document discusses the World Trade Organization (WTO), regional trade blocks, and India's adoption of liberalization, privatization, and globalization (LPG) policies. It provides background on the WTO, including that it was established in 1995 and provides a framework for global trade rules. It also describes regional trade blocks and strategic alliances between countries. In addition, it outlines India's LPG policies introduced in 1991 to liberalize and open its economy, including the goals, components (liberalization, privatization, globalization), impacts, and examples of privatization in India.
Dumping refers to selling goods in foreign markets at prices below what is charged in the home market, in order to gain market share. There are three types of dumping: intermittent, when production exceeds domestic demand; persistent, when a monopolist continuously sells excess production abroad cheaply; and predatory, when a company sells at a loss initially to drive out competitors. Countries employ anti-dumping measures like tariffs, import quotas, or bans to counter the objectives of dumping, which include entering new markets, selling surplus production, expanding trade, and growing industries.
This document discusses four measures that countries use to stop dumping of goods: tariff duties, import quotas, import embargoes, and voluntary export restraints. It explains how each measure works to increase the price of imported goods or restrict their quantity. However, the conclusion argues that these anti-dumping measures may actually harm rather than help the countries that adopt them, as domestic producers pressure governments to restrict competition from better quality, cheaper imported goods by claiming they are dumped.
Devaluation is a downward adjustment to a country's currency value relative to other currencies. It is used by countries with fixed exchange rates as a monetary policy tool. India has devalued the rupee multiple times, such as in 1966 and 1991, to combat trade imbalances and boost exports. Devaluation makes exports cheaper and imports more expensive. This improves the current account balance but also increases prices for imports, hurting consumers and raising inflation. The effects depend on elasticity of demand and supply for exports and imports.
Foreign investment and foreign collaboration provide capital and technology that can help developing countries. Foreign investment comes in the forms of foreign direct investment, like wholly owned subsidiaries, and portfolio investment, like investments in stocks. It brings benefits like increased investment and exports, but also risks like distorting domestic development. India has pursued policies since the 1940s to attract foreign capital while regulating it. The 1991 reforms liberalized many industries and incentives to attract more foreign technology and investment. Further reforms are still needed to improve infrastructure, skills, and the business environment to maximize the benefits of foreign investment.
India's import-export policy aims to promote exports and regulate imports in order to maintain a favorable balance of trade. Major reforms in the early 1990s liberalized trade, replacing import and export restrictions with a free market system. Exports have grown significantly since reforms were implemented, reaching over $100 billion in recent years, though the trade balance remains negative due to high oil import costs. Current policy focuses on further expanding global market opportunities and developing internationally competitive industries.
Fiscal policy involves a government adjusting its spending and tax rates to influence the economy. The objectives of fiscal policy include full employment, reducing inequality, price stability, and economic development. Public revenue comes from tax receipts like direct taxes on individuals/corporations and indirect taxes on goods/services. It also comes from non-tax receipts like interest. Public expenditure consists of revenue expenditure on current needs and capital expenditure on infrastructure. India's fiscal policy has shifted from indirect taxes to more direct taxes since independence. The 2017 budget aims to transform, energize and clean the economy through initiatives for farmers, MGNREGA, affordable housing, and promoting a digital India.
This document discusses regional trade agreements and provides examples of various types of agreements. It begins by defining regionalism and multilateralism in international trade. It then describes the types of regional trade agreements from preferential trade areas to common markets. Examples of regional agreements include the European Union, NAFTA, and Mercosur. The economic effects of regional agreements like trade creation and trade diversion are also analyzed using Brazil, Argentina, and Venezuela as an example. Key issues with agreements like NAFTA on wages and the environment are also summarized.
Regulation of Foreign Direct Investments Patrick Aboku
This presentation was delivered to my colleagues in class on the topic "Regulation of Foreign Direct Investments". It begins with an introduction in the form of definition and benefits, challenges and subsequently regulation in the international and domestic levels
The document discusses the Foreign Exchange Regulation Act (FERA) of 1973 and its replacement by the Foreign Exchange Management Act (FEMA) of 1999. Some key points:
- FERA was introduced in 1973 during an economic crisis to conserve foreign exchange resources by regulating foreign transactions. However, over time it became too restrictive as the economy liberalized.
- FEMA was introduced in 1999 to replace FERA and bring foreign exchange laws in line with India's increasingly open economy. It removed many restrictions and made rules simpler to encourage foreign investment.
- While both acts aimed to regulate foreign exchange, FERA did so in a more controlling way through criminal penalties, whereas FEMA takes a milder
This document summarizes the types and motivations of foreign direct investment. It discusses inward and outward foreign direct investment, and the factors that encourage and restrict them. It also describes different types of foreign direct investments like greenfield investments, mergers and acquisitions, horizontal and vertical foreign direct investments. Finally, it outlines the main motivations for foreign direct investment, including resource seeking, market seeking, efficiency seeking and strategic asset seeking.
The Balance of Payments (BoP) document summarizes the key components of a country's international transactions including the current account, capital account, and change in foreign exchange reserves. The current account tracks trade balances and investment flows, while the capital account reflects investment flows into and out of the country. The difference between the current and capital accounts determines the change in a country's foreign exchange reserves.
This document provides an overview of India's Export-Import (EXIM) policy. It begins with definitions of key terms like EXIM and foreign trade policy. It then discusses the brief history and objectives of India's EXIM policy. It provides details on important documents in the Indian EXIM policy and trends in India's imports and exports before and after the 1990s. The document also summarizes key aspects of India's EXIM policies from 2009-2014 and 2015-2020, including targets, legal framework, general provisions, special focus initiatives, promotional measures, duty exemption schemes, and the Export Promotion Capital Goods Scheme.
The document discusses export promotion in India. It outlines the benefits of exports, procedures for exporting, and policies and schemes implemented by the Indian government to promote exports. It then describes the various institutions that comprise India's export promotion system, including the Department of Commerce, advisory bodies, commodity organizations, service organizations, government trading organizations, and state export promotion agencies. The goal of India's institutional framework is to support and assist exporters at all levels of experience.
Foreign direct investment (FDI) refers to investment made by a company or entity located in one country into business interests located in another country. There are several types of FDI including horizontal FDI where a company operates the same activities abroad as at home, and vertical FDI where different stages of production are located in different countries. FDI can be motivated by seeking resources, markets, efficiencies, or strategic assets. It provides benefits like job creation and technology transfer but may also displace domestic companies. India allows FDI through an automatic route without approval for some sectors, and through a government approval process for other sectors regulated for national interest.
The success of export promotions can be judged from the growth of exports and the dynamism of the export sector. An effective export promotion should compensate for the disadvantages of the national exporters and should make the export business profitable enough to lure entrepreneurs to this sector.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
The document discusses the economic environment and its impact on business. It defines the economic environment as factors such as economic conditions, economic system, policies, and international economic factors that influence business operations. It describes the primary, secondary, tertiary and quaternary stages of economic activity and how environmental factors like economic, social, political, technological, and demographic conditions affect businesses.
Tariff barriers are import duties that create obstacles to international trade by limiting the flow of imported goods. Non-tariff barriers also restrict imports but through means other than tariffs, such as quotas, import licensing requirements, product standards, and government procurement policies. International commodity agreements aim to stabilize prices of primary commodities through quotas, buffer stocks maintained by international organizations, or bilateral contracts between major importers and exporters.
The document summarizes various Indian organizations that promote foreign trade and exports:
- ITPO holds international trade fairs in India and has trade centers in major cities to facilitate business meetings and conferences. IIFT is a prestigious business school focused on foreign trade education and research. ICA and FIEO represent traders and exporters respectively.
- EIC, ECGC, and SMERA help Indian companies with quality inspection, export credit insurance, ratings, and financing. CGTMSE provides credit guarantees for MSME loans. DGFT regulates and promotes India's foreign trade.
This document discusses foreign direct investment (FDI) in Bangladesh and other South Asian countries. It outlines the types and determinants of FDI, and both the benefits and costs of FDI for host countries. The document then analyzes FDI policies, incentives and trends in Bangladesh, India, Nepal, Pakistan, Sri Lanka, Maldives, Bhutan, and compares them. It identifies challenges to attracting FDI in Bangladesh and provides recommendations to improve FDI inflows, including developing infrastructure, streamlining procedures, ensuring political stability, and privatization.
International Business Dynamics by Nagarjun Reddy module 3PNagarjunReddyReddy
The document discusses the World Trade Organization (WTO), regional trade blocks, and India's adoption of liberalization, privatization, and globalization (LPG) policies. It provides background on the WTO, including that it was established in 1995 and provides a framework for global trade rules. It also describes regional trade blocks and strategic alliances between countries. In addition, it outlines India's LPG policies introduced in 1991 to liberalize and open its economy, including the goals, components (liberalization, privatization, globalization), impacts, and examples of privatization in India.
Dumping refers to selling goods in foreign markets at prices below what is charged in the home market, in order to gain market share. There are three types of dumping: intermittent, when production exceeds domestic demand; persistent, when a monopolist continuously sells excess production abroad cheaply; and predatory, when a company sells at a loss initially to drive out competitors. Countries employ anti-dumping measures like tariffs, import quotas, or bans to counter the objectives of dumping, which include entering new markets, selling surplus production, expanding trade, and growing industries.
This document discusses four measures that countries use to stop dumping of goods: tariff duties, import quotas, import embargoes, and voluntary export restraints. It explains how each measure works to increase the price of imported goods or restrict their quantity. However, the conclusion argues that these anti-dumping measures may actually harm rather than help the countries that adopt them, as domestic producers pressure governments to restrict competition from better quality, cheaper imported goods by claiming they are dumped.
Devaluation is a downward adjustment to a country's currency value relative to other currencies. It is used by countries with fixed exchange rates as a monetary policy tool. India has devalued the rupee multiple times, such as in 1966 and 1991, to combat trade imbalances and boost exports. Devaluation makes exports cheaper and imports more expensive. This improves the current account balance but also increases prices for imports, hurting consumers and raising inflation. The effects depend on elasticity of demand and supply for exports and imports.
Foreign investment and foreign collaboration provide capital and technology that can help developing countries. Foreign investment comes in the forms of foreign direct investment, like wholly owned subsidiaries, and portfolio investment, like investments in stocks. It brings benefits like increased investment and exports, but also risks like distorting domestic development. India has pursued policies since the 1940s to attract foreign capital while regulating it. The 1991 reforms liberalized many industries and incentives to attract more foreign technology and investment. Further reforms are still needed to improve infrastructure, skills, and the business environment to maximize the benefits of foreign investment.
India's import-export policy aims to promote exports and regulate imports in order to maintain a favorable balance of trade. Major reforms in the early 1990s liberalized trade, replacing import and export restrictions with a free market system. Exports have grown significantly since reforms were implemented, reaching over $100 billion in recent years, though the trade balance remains negative due to high oil import costs. Current policy focuses on further expanding global market opportunities and developing internationally competitive industries.
Fiscal policy involves a government adjusting its spending and tax rates to influence the economy. The objectives of fiscal policy include full employment, reducing inequality, price stability, and economic development. Public revenue comes from tax receipts like direct taxes on individuals/corporations and indirect taxes on goods/services. It also comes from non-tax receipts like interest. Public expenditure consists of revenue expenditure on current needs and capital expenditure on infrastructure. India's fiscal policy has shifted from indirect taxes to more direct taxes since independence. The 2017 budget aims to transform, energize and clean the economy through initiatives for farmers, MGNREGA, affordable housing, and promoting a digital India.
This document discusses regional trade agreements and provides examples of various types of agreements. It begins by defining regionalism and multilateralism in international trade. It then describes the types of regional trade agreements from preferential trade areas to common markets. Examples of regional agreements include the European Union, NAFTA, and Mercosur. The economic effects of regional agreements like trade creation and trade diversion are also analyzed using Brazil, Argentina, and Venezuela as an example. Key issues with agreements like NAFTA on wages and the environment are also summarized.
Regulation of Foreign Direct Investments Patrick Aboku
This presentation was delivered to my colleagues in class on the topic "Regulation of Foreign Direct Investments". It begins with an introduction in the form of definition and benefits, challenges and subsequently regulation in the international and domestic levels
The document discusses the Foreign Exchange Regulation Act (FERA) of 1973 and its replacement by the Foreign Exchange Management Act (FEMA) of 1999. Some key points:
- FERA was introduced in 1973 during an economic crisis to conserve foreign exchange resources by regulating foreign transactions. However, over time it became too restrictive as the economy liberalized.
- FEMA was introduced in 1999 to replace FERA and bring foreign exchange laws in line with India's increasingly open economy. It removed many restrictions and made rules simpler to encourage foreign investment.
- While both acts aimed to regulate foreign exchange, FERA did so in a more controlling way through criminal penalties, whereas FEMA takes a milder
This document summarizes the types and motivations of foreign direct investment. It discusses inward and outward foreign direct investment, and the factors that encourage and restrict them. It also describes different types of foreign direct investments like greenfield investments, mergers and acquisitions, horizontal and vertical foreign direct investments. Finally, it outlines the main motivations for foreign direct investment, including resource seeking, market seeking, efficiency seeking and strategic asset seeking.
The Balance of Payments (BoP) document summarizes the key components of a country's international transactions including the current account, capital account, and change in foreign exchange reserves. The current account tracks trade balances and investment flows, while the capital account reflects investment flows into and out of the country. The difference between the current and capital accounts determines the change in a country's foreign exchange reserves.
This document provides an overview of India's Export-Import (EXIM) policy. It begins with definitions of key terms like EXIM and foreign trade policy. It then discusses the brief history and objectives of India's EXIM policy. It provides details on important documents in the Indian EXIM policy and trends in India's imports and exports before and after the 1990s. The document also summarizes key aspects of India's EXIM policies from 2009-2014 and 2015-2020, including targets, legal framework, general provisions, special focus initiatives, promotional measures, duty exemption schemes, and the Export Promotion Capital Goods Scheme.
India's import-export policy aims to promote exports and facilitate trade. Major reforms in the early 1990s liberalized trade, moving from a system of licensing and restrictions to one with fewer controls. Exports have increased substantially since then but the trade deficit remains large due to high oil import needs. Current policy focuses on further expanding export opportunities and improving technology and standards to boost international competitiveness.
The document summarizes India's Foreign Trade Policy for 2009-2014. It outlines the objectives of promoting exports and increasing India's competitiveness globally. It provides details on export status holders and the incentives they receive, such as longer credit periods and exemption from customs clearances. It also highlights sectors that received new support under the policy, including gems and jewelry, leather, tea, and automobiles.
The document provides an overview of India's legal framework and policies regarding foreign trade. It discusses the changing global trade environment that led India to shift from import substitution to export-led growth. The key laws governing foreign trade in India are outlined. Objectives of the 2009-2014 Foreign Trade Policy include doubling exports by 2014 through incentives, market expansion, and improving infrastructure. Strategies focus on fiscal incentives, procedures, market access, and sectoral support.
The document outlines India's Foreign Trade Policy for 2009-2014. It aims to [1] arrest the declining trend of exports and double India's exports of goods and services by 2014 in order to reverse the negative impacts of the global economic slowdown, and [2] diversify export markets and promote technological upgrading to increase India's share of global trade to 2% by 2020. Key strategies include fiscal incentives, institutional reforms, market access expansion, and supporting sectors like agriculture, handicrafts and specialty exports.
This document summarizes India's export-import policy from 2009-2014, including provisions around exports, imports, and capital account convertibility. Key points include:
- Mandatory IEC numbers for exports/imports and restrictions on imports of secondhand goods/capital.
- Free exports with some ITC(HS) restrictions and import/export limits on gifts.
- Promotional schemes like MAI, Brand Promotion, Towns of Export Excellence, and SFIS to accelerate export growth.
- Duty exemption schemes like Advance Authorization and DFIA allow duty-free imports of production inputs.
The document provides an overview of India's Export-Import (EXIM) Policy, which governs exports from and imports into the country. It discusses the objectives and history of the EXIM Policy, as well as highlights of policies from 1992-1997, 1997-2002, 2002-2007, 2004-2009, 2009-2014, and the new 2015-2020 policy. The EXIM Policy aims to boost exports, support domestic industry, increase employment and trade. It focuses on trade liberalization, import/export facilitation, and promoting sectors like gems, textiles and electronics through various incentives and schemes.
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International trade : Policy perspective and Startup strategyDR. ASHIS DASH
It is a comprehensive presentation on foreign trade starting from what is export to how to take post export incentive benefits and how to operate export firm, market, and product strategy, sell contract, risk management, policy provisions, different export promotion schemes, etc.
India's foreign trade policy aims to double exports by 2014 through market diversification, technological upgrades, and support for key industries. The 2009-2014 policy provides duty exemptions and incentives under schemes like Focus Product and Market Linked Focus Product to boost 26 priority markets and products. It also supports agriculture, handicrafts, and status exporters through initiatives like Vishesh Krishi and Gram Udyog Yojana and additional duty scrips.
Foreign trade policy of india since 1980Nikhil Soares
India's foreign trade policy has traditionally focused on protecting its domestic market from foreign competition. However, since the 1980s, India has liberalized its trade policies and opened up its economy. The 1991 reforms marked a major shift, introducing policies like free imports and exports, rationalizing tariffs, increasing convertibility of the rupee, and establishing export promotion schemes. Subsequent policies in the 2000s and 2010s continued liberalizing and aimed to boost Indian exports through incentives for product and market diversification as well as technological upgrading.
The document discusses India's trade policies and their impact on the leather industry. It outlines how trade policies have shifted from an emphasis on control to development and liberalization. Key changes include streamlining trade procedures, liberalizing import regimes, and placing a thrust on export orientation. The policies aim to double India's share of global merchandise trade by 2009. Specific initiatives for the leather industry include increasing duty-free import entitlements and exempting machinery for effluent treatment plants from customs duties to boost leather exports from Rs. 10,000 crore to Rs. 20,000 crore.
Foreign Trade Policy Of India Since 1980Nikhil Soares
The document summarizes India's foreign trade policies since 1980. It discusses how India traditionally protected its domestic market but began liberalizing in the 1980s and opened up further after 1991. The post-1991 policies aimed to free up imports and exports, rationalize tariffs, decontrol more items, devalue and make the rupee convertible on the current account. Subsequent policies in 2002 and 2004 continued liberalizing and provided incentives to boost exports, especially of agriculture, services and from SEZs.
The document discusses India's import policy. It provides an overview of what constitutes an import, outlines various import policies and guidelines established by the Directorate General of Foreign Trade regarding quality standards, product packaging, and restricted goods. The advantages of imports include reducing dependence on existing markets and maintaining domestic market competitiveness. However, disadvantages include increased competition and disease risks. The document also presents a case study on the government modifying policies to facilitate car and motorcycle imports for racing events.
This document contains the Foreign Trade Policy of India for 2009-2014. It aims to reverse declining exports and achieve 15% annual export growth and $200 billion in exports by 2011 in response to the global recession. Long term objectives include doubling India's share of global trade by 2020. It outlines strategies like fiscal incentives, market access agreements, infrastructure development and export promotion to achieve these goals. It also rationalizes various export incentive schemes.
The document summarizes India's export-import (EXIM) policy. It discusses the objectives of EXIM policy as facilitating globalization and promoting productivity and competitiveness. It outlines various export promotion schemes like duty drawback, export promotion capital goods scheme, and duty exemption/remission schemes. It also discusses volumes of EXIM policy, foreign trade policy 2009-2014 which aimed to double India's exports and share in global trade, and highlights incentives introduced or extended like benefits for status holders, income tax exemptions, and enhanced export credit insurance coverage.
The document provides an overview of India's foreign trade policies with respect to EXIM from 2015-2020. It discusses the composition and direction of India's foreign trade, including major export and import sectors. It also outlines India's foreign trade policy framework, objectives of the 2015-2020 policy, and changes introduced compared to previous policies. Finally, it provides a brief history of foreign exchange regulations in India moving from FERA to the newer FEMA.
The document summarizes Pakistan's trade policy framework for 2012-2015. Key points include:
- The policy was approved by Prime Minister Raja Pervaiz Ashraf and announced by the Commerce Minister in 2012.
- Its objective was to achieve high economic growth through exports. It included measures like export financing schemes, import duty markups, and establishing an export import bank.
- It aimed to promote regional trade, especially with China, Iran and Afghanistan, and attract new investment in export industries through special economic zones.
The document discusses the STP framework for marketing segmentation, targeting, and positioning. It provides information on market segmentation including the basis for segmentation such as demographics, geography, benefits, and psychographics. It also discusses target marketing and how brands focus on specific segments rather than the entire market. Finally, it covers positioning and how brands distinguish themselves in the minds of customers compared to competitors. An example is provided on how Coca-Cola and Pepsi use segmentation, targeting, and positioning in their marketing strategies.
Logistics automation refers to the application of computer software or automated machinery to improve efficiency in logistics operations, typically within warehouses or distribution centers. It involves automation technologies like conveyors, sortation systems, industrial robots, and automated storage and retrieval systems. Logistics automation can increase productivity and throughput, improve quality consistency, reduce labor costs, and complement higher-level supply chain management systems. While it offers many benefits, logistics automation also faces limitations from costs, security threats, and an inability to automate all desired tasks.
This document discusses costing and pricing strategies for businesses. It defines different types of costs like direct, indirect, fixed and variable costs. It also explains how to calculate the cost per unit of production and break-even point. The document then discusses various pricing strategies like premium pricing, penetration pricing, price skimming, economy pricing and psychological pricing. It emphasizes the importance of understanding costs and setting the right price point to maximize profits.
This document discusses key concepts in production and manufacturing including:
1. It defines production as the process of making or manufacturing goods and products from raw materials or components.
2. It outlines the factors of production as the important economic elements needed to produce a good or service for sale.
3. It describes the three main types of manufacturing systems as flow manufacturing, intermittent manufacturing, and project manufacturing.
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2. What is EXIM policy?
Also knows as Foreign Trade Policy
The foreign trade of India is guided by the Export-Import
policy of India
The Ministry of Commerce and Industry, Government of India, pronounces the
Indian EXIM policy or Export-Import policy of India.
It contains policies in the sphere of Foreign trade i.e. with respect to import &
export from the country and more especially export promotion measures, policies
and procedure related to it.
Export means selling abroad and import as bringing into India, any goods and
services.
The Government of India advises the Exim Policy of India for a phase of five
years under Section 5 of the Foreign Trade Development and Regulation Act,
1992.
The Exim Policy is renewed every year on the 31st of March and the revisions,
improvements and new proposals become effective from 1st April of every year.
3. Brief History about EXIM
In the year 1962, the Government of India selected a special Exim Policy
Committee to review the government preceding policies of export import
(Indian Exim policy).
The committee was afterward permitted by the Government of India. Mr. V.
P. Singh, the then Commerce Minister and pronounced the new Exim Policy
of India on the 12th of April, 1985.
Primarily the Export-Import Policy of India was launched for the period of
three years with main intention to boost the export business in India.
4. Objectives of EXIM Policy
To establish the framework for globalisation.
To promote the productivity, competitiveness
of Indian industry.
To encourage the attainment of high &
internationally accepted standards of quality.
To increase export by facilitating access to raw materials, intermediate
components, consumables and capital goods from the international market
To generate new employment.
To provide quality consumer products at reasonable prices.
5. Indian top Imports and Exports
Agricultural products
Automobiles
Chemicals
Food and beverage products
Industrial goods
Pharmaceuticals and
biotechnology
Defense products, etc.
7. India’s share in Global Trade
According to the WTO, in merchandise trade, India was the 19th largest
exporter in the world with a share of 1.7 percent and the 12th largest importer with a
share of 2.5 percent in 2013.
In commercial services, India was the 6th largest exporter in the world with a share
of 3.2 percent and the 9th largest importer with a share of 2.8 percent.
8. Comparison of Pre 90’s & Post 90’s
Exim Policy
Year Impor
t (cr.)
Export
s (cr.)
Balance
of trade
(cr.)
Remarks
1948-51 650 647 -3 Excess of imports due to pent-up-
demand of war, shortage of food and
raw material due to partition, etc.
1951-56 730 622 -108 Trade deficit was largely due to
programme of industrialization which
gathered momentum and pushed up
the import of capital goods
1956-61 1080 613 -467 Excess of import due to setting of
steel plants, heavy expansion &
renovation on railways &
modernization of many industries.
9. Comparison of Pre 90’s & Post 90’s
Exim Policy
Year Import
s (cr.)
Export
s (cr.)
Trade
balance
(cr.)
Remarks
1961-66 1224 747 -477 Excess imports due to defence needs
caused by aggression by China & Pakistan,
rapid industrialization, need of food grains
due to failure of crops
1985-90 28,874 18033 -10841 Huge trade balance compelled
government to approach for loan to World
Bank/IMF
1990-92 45522 38300 -7222 Push was given to export, but as a
consequence of Gulf war govt. failed to
curb imports. Govt. introduced a no. of
measures but failed to boost exports.
10. Comparison of Pre 90’s & Post 90’s
Exim Policy
Year Import
s (cr.)
Exports
(cr.)
Trade
balance
(cr.)
Remarks
1992-01 140740 118252 -22488 In 1992-01,slow down in exports due to-
•Depressed nature of world markets.
•Saturation of developed countries
•Increased protectionism by industrialized
countries in area of textile and clothing.
•Increasing competition from China &
Taiwan.
•In 2000-01 export was largely due to rupee
depreciation along with further trade
liberalization, more openness to foreign
investment in EOU sectors like IT
11. Comparison of Pre 90’s & Post 90’s
Exim Policy
Year Imports
(US
$mn)
Exports
(US
$mn)
Trade
bal. (US
$mn)
Remarks
2002-03 65422 52512 -12910 Rise in oil imports, food and allied
products, capital goods
2003-04 80177 64723 -15454 Exim policy gave massive thrust to
exports by
Duty free import facility for service
sector up to earning 10lakh foreign
exchange
Liberalization of duty exemption
scheme
Besides all these measures, trade balance
is high because of imports of petroleum
products.
12. Export Import Policy, 2009-14
Legal Framework
General Provisions regarding Import and Export
Special Focus Initiatives
Promotional Measures
Duty Exemption / Remission Schemes
Export Promotion Capital Goods Scheme
Export Oriented Units (EOUs) etc
Special Economic Zones
Deemed Exports
13. Aims is General
The policy aims at developing export
potential, improving export performance,
boosting foreign trade and earning
valuable foreign exchange. FTP assumes
great significance this year as India's
exports have been battered by the global
recession
A fall in exports has led to the closure of
several small- and medium-scale export-
oriented units, resulting in large-scale
unemployment.
14. Targets
Export Target : $ 200 Billion for 2010-11
Export Growth Target: 15 % for next
two year and 25 % thereafter.
15. LegalFramework
The Foreign Trade Policy (FTP) 2009-14 operated with effect from 27th
August 2009 till 31st March 2014
An annual supplement is issued and forms part of the FTP.
The Central Government can make any amendment in the FTP by issuing a
notification in the public interest
Authorizations issued before commencement of FTP shall continue to be
valid for the purpose and duration for which such authorization was issued
In case an export or import which is permitted freely under FTP, is
subsequently subjected to any restriction or regulation, such export or import
will ordinarily be permitted not withstanding such restriction or regulation.
16. General Provisions
Exports and Imports free unless regulated
Compliance of Imports with Domestic Laws
The norms applicable to domestically produced goods shall apply to imports, unless
specifically exempted
Interpretation of Policy
The decision of DGFT shall be final and binding on all matters relating to interpretation of
policy
Procedure
DGFT may, specify procedure to be followed by an exporter or importer or by any licensing/
regional authority or by any other authority
Exemption from Policy / Procedure
DGFT may exempt any person or class or category of persons from any provision of FTP or
any procedure and may, while granting such exemption, impose some conditions
Principles of Restriction
Protection of public morals
Protection of human, animal or plant life or health
Protection of patents, trademarks and copyrights, and the prevention of deceptive practices
17. General Provisions
Prevention of use of prison labour
Protection of national treasures of artistic, historic or archaeological value
Conservation of exhaustible natural resources
Protection of trade of fissionable material or material from which they are derived; and
Prevention of traffic in arms, ammunition and implements of war
Export/Import of Restricted Goods/Services
‘Restricted’ goods / services may be exported or imported only in accordance with an
Authorization / Permission/ License
Terms and Conditions of a license / Certificate / Permission / Authorization
Every Authorization shall be valid for prescribed period of validity and shall contain such terms
and conditions as may be specified by Regional Authority (RA), which may include:
(a) Description, quantity and value of goods;
(b) Actual User condition;
(c)Export obligation;
(d) Minimum value addition to be achieved; and
(e) Minimum export / import price
18. General Provisions
Importer-Exporter Code (IEC) Number is mandatory unless specifically
exempted
Transit Facility shall be regulated in accordance with bilateral treaties between India
and those countries
Actual User Condition
Capital goods, raw materials, intermediates, components, consumables, spares,
parts, accessories, instruments and other goods, which are importable without any
restriction, may be imported by any person. However, if such imports require an
Authorization, actual user alone may import such goods unless actual user
condition is specifically dispensed with by DGFT
Second Hand Goods
Import of second hand goods, except second hand capital goods, shall be restricted
for imports and may be imported only in accordance with the provisions of FTP,
ITC(Indian Trade Classification) (HS), HBP v1(Handbook of Procedures), Public
notice or an Authorization in this regard. Import of re-manufactured goods shall
be allowed only against a license
19. General Provisions
Import of Gifts shall be ‘free’ unless otherwise specified/ restricted
Passenger Baggage
These may be imported as part of passenger baggage without an
Authorization- household goods and personal effects, samples of items
that are freely importable, exporters coming from abroad are also allowed
to import drawings, patterns, labels, price tags, buttons, belts, trimming
and embellishments required for export
Import on Export basis
Freely exportable new or second hand capital goods, equipments,
components, parts and accessories, containers meant for packing of goods
for exports, jigs, fixtures, dies and moulds may be imported for export
without an Authorization on execution of BG(Bank Guarantee) with
Customs Authorities
20. General Provisions
Clearance of Goods from Customs
Goods already imported / shipped / arrived, in advance, but not cleared from
Customs may also be cleared against an Authorization issued subsequently
Private / Public Bonded Warehouses for Imports
Private / Public bonded warehouses may be set up in DTA(Domestic Tariff Area).
Any person may import goods, except prohibited items, arms and ammunition,
hazardous waste and chemicals and warehouse them in such bonded warehouses.
Such goods may be cleared for home consumption whenever required. Customs
duty as applicable shall be paid at the time of clearance.
Free Exports
All goods may be exported without any restriction except to the extent that such
exports are regulated by ITC (HS) or any other provision of FTP or any other law
for the time being in force. DGFT may however, specify through a public notice
such terms and conditions according to which any goods, not included in ITC(HS),
may be exported without an Authorization
21. SpecialFocus Initiatives
The Chapter on Special Focus Initiatives
is broadly classified into:
Market Diversification
Technological Upgradation
Support to status holders
Agriculture and Village Industry
Handlooms
Handicrafts
Gems & Jewellery
Leather and Footwear
Marine Sector
Electronics and IT Hardware
Manufacturing Industries
Sports Goods and Toys
Green products and technologies
Incentives for Exports from the
North Eastern Region
25. Promotional Measures
Assistance to States for Developing Export Infrastructure and Allied Activities
(ASIDE)
The objective of scheme is to establish a mechanism for involving the State governments to
participate in funding of infrastructure critical for growth of exports by providing export
performance linked financial assistance to them
Market Access Initiative (MAI)
Financial assistance is provided for export promotion activities on focus country, focus
product basis. The Government may provide financial assistance ranging from 25% to
100% of total cost. A whole range of activities can be funded under MAI scheme. These
include:
1) Market survey/studies
2) Setting up of showroom houses
3) Participation in international trade fairs
4) Brand promotion
5) Publicity campaigns, etc.
26. Promotional Measures
Market Development Assistance (MDA)
Financial assistance is provided for a range of export promotion activities
implemented by EPCs and Trade Promotion Organizations by way of
participation in Trade Fairs, Buyer Seller meets, Export promotion
seminars etc.
Brand Promotion and Quality
The primary objective is to promote and create international awareness of
the “Made in India” label in markets overseas
Test Houses
Central Government will assist in modernization and up gradation of test
houses and laboratories to bring them at par with international standards
27. Promotional Measures
Export and Trading Houses: Status Category
Served From India Scheme (SFIS)
Focus Market Scheme (FMS)
Focus Product Scheme (FPS)
Market Linked Focus Products Scrip (MLFPS)
Status Holders Incentive Scrip (SHIS)
Incremental Exports Incentivization Scheme
Vishesh Krishi And Gram Udyog Yojana (VKGUY)
28. Duty Exemption/Remission Schemes
The schemes initiated by the Government under this category are as
follows:
Export Promotion Capital Goods Scheme (EPCG)
Advance Authorization Scheme
Duty Free Import Authorization Scheme (DFIA)
Duty Entitlement Passbook (DEPB) Scheme
Duty Drawback (DBK) Scheme
29. Export Promotion CapitalGoods
Scheme (EPCG)
in Foreign Trade Policy under following
This scheme has been discussed
headings:
Zero duty EPCG Scheme
Concessional 3% duty EPCG Scheme
EPCG for projects
EPCG for Retail Sector
EPCG Authorization for Annual Requirement
Export Obligation
Provisions for BIFR Units
30. Export Promotion CapitalGoods
Scheme (EPCG)
EPCG for agro units
Indigenous Sourcing of capital goods and benefits to domestic supplier
Fixation of Export Obligation
Technological Up gradation of existing EPCG machinery
Incentives for Fast Track Companies
EPCG for Green Technology Products -reduced EO
31. EPCG scheme – Eligibility Criteria
Scheme covers manufacturer exporter, merchant exporter and service provider
Manufacturer exporter : A person who exports goods manufactured by him or
intends to export such goods
Merchant exporter : A person engaged in trading activity and exporting or
intending to export such goods
Service provider : A person providing
Supply of a service from India to other country
Supply of a service from India to the service consumer of any other country in India
Supply of a service from India through commercial / physical presence in the territory of any
other country
Supply of a service in India relating to exports paid in free foreign exchange or in Indian Rupees
which are otherwise considered as having being paid for in free foreign exchange by RBI.
32. Export Promotion Capital Goods (EPCG) Scheme also covers a service
provider who is designated / certified as a Common Service Provider (CSP)
by the DGFT
Exports by Users of the common service, to be counted towards fulfillment
of EO of the CSP
A 100 % Bank Guarantee equivalent to the portion of duty foregone by
users of CSP apportioned in terms of quantum of export obligation is to be
discharged.
As regards details of users, the CSP is required to inform to the concerned
Regional Authority prior to exports, and the quantum of Bank Guarantee
shall be equivalent to duty foregone amount and BG can be given by CSP or
any one of the users or a combination thereof, at the option of CSP.
EPCG scheme – Eligibility Criteria
33. EPCG scheme–Procurements allowed
Service : It includes all the tradable services covered under General Agreement on
Trade in Services and earning free foreign exchange
Imports allowed under the EPCG scheme
Capital goods for pre production, production and post production activities
Spares (including refurbished/ reconditioned spares), tools, jigs, fixtures, dies, moulds
and components used for assembly or manufacture of capital goods
Second hand capital goods also allowed
Restricted imports
Import of motor cars, sports utility vehicles allowed only to hotels, travel agents, tour
operators, golf resorts etc
Import of restricted items under the ITC-HS allowed only subject to approval from
EFC at Headquarters.
34. EPCG scheme–Procurements allowed
Domestic procurements also allowed
EPCG license holder required to file a request with the Regional Authority
for invalidation of direct imports and allowing domestic procurements
Domestic supplier entitled to ‘deemed exports’ benefit
Deemed exports benefit include refund of terminal excise duty
However, for EO computation, duty saved would be notional customs duty
on FOR
Imports subject to Actual user condition
Goods can be imported only by the actual user
35. Post Export EPCG Scheme
Exporters if they choose to, may import Capital Goods on payment of duty
in cash and subsequently receive duty credit scrip on completion of export
obligation.
Thus there would be no duty remission / duty exemption at the time of
import of the Capital Good (CG).
Applicant will have to inform the Regional Office of DGFT (RA) about the
import of CG and based on which RA will fix export obligation.
Since the duties have been paid upfront at the time of import of CG, the EO
would be 85 % of normal EO.
36. Export Of Products From North East
To promote manufacturing activity and employment in the North Eastern
Region of the country, export obligation under the EPCG Scheme shall be
25% of the normal export obligation.
However, export of specified products through notified Land Customs
Stations of North Eastern Region shall be provided additional incentive to
the extent of 1% of FOB value of exports.
37. SpecialEconomic Zones (SEZ)
This Chapter is governed by the Special Economic Zone Act, 2005.
The main objectives of the SEZ Act are:
Generation of additional economic activity
Promotion of exports of goods and services
Promotion of investment from domestic and foreign sources
Creation of employment opportunities
Development of infrastructure facilities
The SEZ Rules provide for:
Simplified procedures for development, operation, and maintenance of the Special Economic
Zones and for setting up units and conducting business in SEZs
Single window clearance for setting up a unit in a Special Economic Zone
38. SpecialEconomic Zones (SEZ)
well as State
Single Window clearance on matters relating to Central as
Governments
The incentives and facilities offered to the units in SEZs for attracting
investments into the SEZs, including foreign investment are:
Duty free import/domestic procurement of goods for development, operation and
maintenance of SEZ units
100% Income Tax exemption on export income for SEZ units under Section
10AA of the Income Tax Act for first 5 years, 50% for next 5 years thereafter and
50% of the ploughed back export profit for next 5 years
External commercial borrowing by SEZ units upto US $ 500 million in a year
without any maturity restriction through recognized banking channels
Exemption from Central Sales Tax
39. SpecialEconomic Zones (SEZ)
Exemption from Service Tax
Single window clearance for Central and State level approvals
Exemption from State sales tax and other levies as extended by the
respective State Governments
40. Highlights of EXIM Policy 2015-2020
1st April 2015 to 31st March 2020.
Vision, Mission and objectives:
• The vision is to make India a significant partner in world trade
by 2020.
• Government aims to increase India’s exports of merchandise and
services from USD 465.9 billion in 2013-14 to approximately
USD 900 billion by 2019-20.
• Raise India’s share in world exports from 2 percent to 3.5
percent.
• Initiatives such as “Make in India”, “Digital India” and “Skills
India” to create an “Export Promotion Mission” to provide a
stable and sustainable policy environment for foreign trade.
41. The Mega Agreements: Implications for India
• Trans Pacific Partnership,
• Trans-Atlantic Trade and Investment Partnership and
• Regional Comprehensive Economic Partnership (RCEP)
These will add a completely new dimension to the global trading
system.
42. Market Strategy
India’s future bilateral/regional trade engagements will be with countries
that are not only promising markets but also major suppliers.
Employment-generating sectors such as textiles, agriculture, leather and gems
& jewellery will continue to receive major attention for promoting exports to
the US market.
India will focus trade promotion activities on new products with higher
value addition particularly in the categories of defence equipment,
medical equipment, construction material, processed foods, as also services.
India is negotiating Comprehensive Economic Cooperation/Partnership
Agreements with Australia and New Zealand.
Another focus area is South-East Asia. Trade integration with the
CLMV (Cambodia, Lao PDR, Myanmar and Vietnam), to enable the Indian
private sector to set up manufacturing hubs in this region
43. Product strategy
The focus on promoting exports of high
will
with
be
a strong domestic manufacturing
products
including engineering goods, electronics, drugs
value
base,
and
pharmaceuticals.
Government aims to encourage and promote hi-tech products
and, as a first step, certain products have been identified for
a special focus for the duration of the policy.
The potential of the MSME sector, the problems it faces and its
requirements have been kept in view while framing the FTP.
44. The Services Sector
Efforts will be made to gain effective market access abroad through
comprehensive economic partnership agreements with important markets.
A Global Exhibition on Services will be held annually, which will provide a
forum for showcasing India’s strengths in the Services sector.
Institutional Mechanisms for Trade Promotion:
The schemes for trade promotion under the Department of Commerce,
namely, the Market Access Initiative (MAI) Scheme and the Market
Development Assistance Scheme
The present allocation for the MAI scheme is inadequate; efforts will be made
to augment resources for the scheme.
A major convention-cum exhibition centre will be developed at Pragati
Maidan in Delhi.
Project exports will be encouraged through special lines of credit offered
by the Ministry of External Affairs and the Buyers‟ Credit Scheme of
the Department of Commerce through Exim Bank of India.