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8/3/2019 Indias International Trade_draft 1
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Indias International Trade
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Cont..
In the 1990s, exports of goods and services rose from 6.2percent to 8.2 percent of total output.
By the end of the decade, however, growth in exportsbegan to level off due to reduced international demand,
especially with India's main economic partners, theUnited States and the European Union (EU).
Indian exports were further hit by serious competitionfrom east Asian countries, which had recentlyexperienced depreciated domestic currencies, which led
to a decline in global prices for their manufacturedgoods. As a result, exports of Indian textiles, chemicals,machinery, electronic goods, and automotive parts allbegan to decline.
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Foreign Trade Policy 2004-09
Launched on August 31, 2004.
It broke the running EXIM Policy 2002-2007 in year
2004 due to the change of Government.
The policy came into force on September 1, 2004 andremained effective till March 31, 2009.
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Foreign Trade Policy 2004-09
OBJECTIVES:
To double our percentage share of global merchandize trade within 5 years.
Use trade expansion as an effective instrument of economic growth and
employment generation.
Thrust Sectors
# Agricultural# Handicrafts
# Handlooms# Gems and Jewellery# Leather# Textile
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Technological Expectancies
Digital automation target
#All Export transactions would be
through EDI mode by 31st October,2005;
# Digital Signature and EFT facility
operational
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Foreign Trade Policy 2009-2014;
Objectives
To arrest and reverse declining trend of exports is themain aim of policy, aim to be reviewed after 2 years
To double export of goods and services from India by2014
To double Indias share in global merchandise trade
Simplification of the application procedure for availingvarious benefits
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Foreign Trade Policy 2009-2014;
Objectives
To set in motion the strategies and policy
measures which catalyze growth of exports
To encourage exports through a mix of
measures
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Indias Merchandise Trade Turnover increased from US$312 bn in FY07 to US $620 bn in FY11(increase of
98.71%)
26,414.05 163,132.18 185,295.36 178,751.43251,135.89
185,735.24
251,654.00303,696.31 288,372.88
369,769.13312,149.29
414,786.18
488,991.67
467,124.31
620,905.02
0.00
200,000.00
400,000.00
600,000.00
800,000.00
1,000,000.00
1,200,000.00
1,400,000.00
Apr-Mar 2007 Apr-Mar 2008 Apr-Mar 2009 Apr-Mar 2010 Apr-Mar 2011
India's Total Trade from 2007-2011 (In US dollars)
Export Import Total
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Indias Export increased from US $126 bn in FY07 to US$251 bn in FY11(increase of 99.20%)
126,414.05 163,132.18185,295.36 178,751.43 251,135.89
185,735.24
251,654.00303,696.31 288,372.88
369,769.13312,149.29
414,786.18
488,991.67467,124.31
620,905.02
0.00
200,000.00
400,000.00
600,000.00
800,000.00
1,000,000.00
1,200,000.00
1,400,000.00
Apr-Mar 2007 Apr-Mar 2008 Apr-Mar 2009 Apr-Mar 2010 Apr-Mar 2011
India's Total Trade from 2007-2011 (In US dollars)
Export Import Total
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Indias Import increased from US $ 185 bn in FY07
to US $369 bn in FY11(increase of 99.46%)
126,414.05 163,132.18185,295.36 178,751.43
251,135.89
185,735.24
251,654.00
303,696.31 288,372.88
369,769.13312,149.29
414,786.18
488,991.67 467,124.31
620,905.02
0.00
200,000.00
400,000.00
600,000.00
800,000.00
1,000,000.00
1,200,000.00
1,400,000.00
Apr-Mar 2007 Apr-Mar 2008 Apr-Mar 2009 Apr-Mar 2010 Apr-Mar 2011
India's Total Trade from 2007-2011 (In US dollars)
Export Import Total
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Indias Exports Region Wise for FY 2011
In US $ Millions
50,697.40
16,281.18
37,148.79
141,022.73
2,863.633,122.15
1) Europe
2) Africa
3) America
4) Asia & ASEAN
5) CIS & Baltics
6) Unspecified Region
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Indias Exports Commodity Wise
In Dollars In Rupees
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Indias Imports Commodity Wise
In Dollars In Rupees
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Changes in gems and jewellery Sector
Plan of establishing Diamond Bourses aroundthe country
Import of cut and polished diamonds forcertification and grading has been introduced onconsignment basis
Personal carriage limit increased For exhibitions US$ 5 million
For samples US$ 1 million
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Foreign Trade Policy 2009-2014;
C
hanges in Agriculture Sector To reduce transaction and handling costs, a
single window system to facilitate export of
perishable agricultural produce has been
introduced. The system involves creation of
multi-functional nodal agencies to be
accredited by Agricultural and Processed
Food Products, Export DevelopmentAuthority.
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Foreign Trade Policy 2009-2014;
Changes in Leather Sector
Leather sector shall be allowed re-export
of unsold imported raw hides and skins and
semi finished leather from public bonded
ware houses, subject to payment of 50% of
the applicable export duty.
Enhancement of FPS rate to 2%, would also
significantly benefit the leather sector
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Foreign Trade Policy 2009-2014;
Changes for Export of Tea
Minimum value addition under advanceauthorization scheme for export of tea hasbeen reduced from the existing 100% to 50%.
DTA sale limit of instant tea by Export OrientedUnit (EOU) units has been increased from theexisting 30% to 50%.
Export of tea has been covered under VKGUYScheme benefits.
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Foreign Trade Policy 2009-2014;
Changes in Pharmaceutical Sector
Export Obligation Period for advanceauthorizations issued with 6-APA as inputhas been increased from the existing 6
months to 36 months, as is available forother products.
Pharmaceutical sector extensively coveredunder MLFPS for countries in Africa andLatin America; some countries in Oceaniaand Far East.
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Foreign Trade Policy 2009-2014;
Changes in Handloom Sector
To simplify claims under FPS, requirement
of Handloom Mark for availing benefits
under FPS has been removed.
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Foreign Trade Policy 2009-2014;
Changes for Export Oriented Units
EOUs can sell 90% of their production in
Domestic Tariff Area
EOUs will now be allowed to procure
finished goods for consolidation along with
their manufactured goods, subject to
certain safeguards
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Indias major Export partners 2007-2011
0.00
5,000.00
10,000.00
15,000.00
20,000.00
25,000.00
30,000.00
35,000.00
40,000.00
Apr-Mar 2007 Apr-Mar 2008 Apr-Mar 2009 Apr-Mar 2010 Apr-Mar 2011
U S A
U ARAB EMTS
CHINA P RP
SINGAPORE
U K
HONG KONG
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Indias major Import partners 2007-2011
0.00
5,000.00
10,000.00
15,000.00
20,000.00
25,000.00
30,000.00
35,000.00
40,000.00
45,000.00
50,000.00
Apr-Mar 2007 Apr-Mar 2008 Apr-Mar 2009 Apr-Mar 2010 Apr-Mar 2011
CHINA P RPU S A
SAUDI ARAB
U ARAB EMTS
IRAN
SWITZERLAND
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Indias Major Export Partners
In Dollars
In Rupees
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Indias Major Import Partners
In Dollars In Rupees
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Conclusion
Conversion of Imports and Exports
(Control) Act, 1947 to Foreign Trade
Development and Regulation Act, 1992 was
a remarkable change
Foreign Trade Policy 2004-2009 had a good
impact on Indias trade
Focus Market Scheme in Foreign Trade
Policy 2009-2014 was an important factor.