STANDING COMMITTEE FOR PROMOTION OF EXPORTS (SHIPPING)

Copyright infringement not intended

Context - Recently the 51st Session of the Standing Committee for Promotion of Exports (Shipping) was held in New Delhi.

Details

• The Committee was chaired by the Special Secretary of the Logistics Division, Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry.
• The session witnessed active participation from industrial organisations and also has representation from all major ports of India.
• The main objective of the session was to focus on;
  • Reforming the departmental working structure.
  • Improving regulatory interfaces.
  • Reducing gaps in regulatory architecture.
  • Overcome any procedural, procedure, or performance bottlenecks that may restrict the export potential of the country.
• In the session, all the issues were categorized into three major categories;
  • Procedural issues.
  • Issues impacting logistics costs.
  • Technology related issues to improve EXIM efficiency.
• The government agreed to examine issues faced by trade associations to reduce logistics costs wherever practicable to make Indian exports more competitive globally.
• It was suggested to adopt Port Community Systems to;
  • Reduce the turnaround time of Indian ports.
  • Reduce logistics costs for Indian traders.
  • Improve India’s competitiveness globally.

Steps by Government to boost India’s export:

• Foreign Trade Policy (FTP) 2015-20 was launched to rationalize the export promotion schemes and also introduced two new schemes;
  • Merchandise Exports from India Scheme (MEIS) for improving the export of goods.
  • Services Exports from India Scheme (SEIS) for increasing exports of services.
• A new Logistics Division was created in the Department of Commerce for the integrated development of the logistics sector.
• Interest Equalization Scheme on pre and post-shipment rupee export credit was introduced to provide cheaper credit to exporters.
• The Union Government has started implementing the ‘Niryat Bandhu’ Scheme to reach out to the new and potential exporters including exporters from Micro, Small & Medium Enterprises (MSMEs) and support them through counselling sessions, encouraging them to get into international trade and boost Indian exports.
• Assistance is provided through the ‘Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme’.
• “Agriculture Export Policy” was launched to facilitate agricultural exports.
• The Government has launched a Common Digital Platform for Certificate of Origin to facilitate trade and increase Free Trade Agreement (FTA) utilization by exporters.
• 12 Champion Services Sectors have been identified for boosting and diversifying services exports.
• ‘One District, One Product’ has been launched by identifying products with export potential in each district.
• Special Package under the Atmanirbhar Bharat programme has been announced during the COVID pandemic to support the domestic industry through various banking and financial sector relief measures.

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1830858

 https://t.me/+hJqMV1O0se03Njk9