Foreign trade policies

INDIA’S FOREIGN TRADE POLICIES

Presented by:Apurba Kumar Sarma 08/D/2013Arifa Rahman 09/D/2013Garima Goswami 20/D/2013Hemanga Deka 23/D/2013Kunal Sharma 35/D/2013Priya Podder 50/D/2013Rickjyoti Batshya 57/D/2013

What is Indian Foreign Trade Polices?

• Union Commerce Ministry, Government of India announces integrated Foreign Trade policies every five year also called EXIM policy.

• It was earlier implemented as EXIM Policy on 25th march 1947 but on 1992 it was replaced by foreign trade (development and regulation act).

• Policy updated every year with some modifications & new schemes.

Title

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Objectives

• To double India’s share

• To increase economic growth

• To encourage domestic producers

• To enhance technological strength • To encourage attainment of quality goods

Composition Of India’s Foreign Trade

Agricultural and Allied Products

• 15% share in exports• Top items of agricultural exports include: - Fish Products - Rice - Oil Cakes - Fruits and Vegetables

Ores and Minerals

• 12.3% share in exports.

Manufactured Goods• 61.3% share in exports.- Include: Engineering Goods• Gems and Jewellery• Chemical and Allied Products• Readymade Garments

Minerals Fuels and Lubricants

• 18.3% share in exports

• There has been improvement in the exports of mineral fuels and lubricant both in terms of value and in terms of %.

Composition of Imports

• Petroleum Products 31.7% share in Imports.• Capital Goods 20.3% share in Imports.• Pearls and Precious Stones 6.2% share in Imports.• Iron and Steel 2.4% share of Imports.• Fertilizers 2.4% share of Imports.

Foreign Trade Policy Policy – 1997-2002Objectives:1. Raising the pace of country’s Export2. New incentive for export promotion3. Reducing the number of items in the negative list of export4. Establishment of a self-reliant country.

Features :5. The new duty entitlement passbook scheme was started.6. Special incentives to agricultural products were given.7. Special incentives to software exports were provided.8. Custom duties were reduced.

Policy 2002-07Objectives:

1. To increase India’s share in world trade from the present level of 0.67% in 2002 to 1% in 2007.

2. To increase the growth rate of exports to 12.4%3. To upgrade the level of technology by allowing liberal import

of technology.4. Reduction in percentage of physical examination of export

cargo.Features:

1. The policy has taken measures to encourage value added exports in the garment sector.

2. The policy has given major trust to agricultural exports by removing export restriction on designated items.

3. Transaction cost has been reduced.

Policy 2009-2014

Objectives:1. To arrest and reverse the declining trend of exports.2. To provide support to those sectors which have been hit badly

by recession.3. To achieve an Annual Export growth of 15% by March 2013. 4. To achieve Annual Export growth of around 25% by 2014.

Features:4. 100% growth of India’s export of goods and services by 2014.5. 26 new market added to focus market scheme6. Export units allowed to sell 90% of goods in domestic market.4. Duty-free samples for exporters raised to 50 pieces.