THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (INDEPENDENT CHARGE) (SMT. NIRMALA SITHARAMAN)
(a) & (b) The details of Export, Import, Trade Deficit and Exports as percentage of GDP(Financial year wise) for Merchandise goods is given in Table-1. Indias Total Trade and its share in the World (Calendar year wise) is given in Table-2. The details of state-wise exports during 2013-14 (as reported by Customs and compiled by DGCI&S Kolkata, but not validated) are given in Table-3. Table-2 and Table-3 are at Annexure-1.
Table-1: Value (US $ Billion)
YEAR 2011-12 2012-13 2013-14 2013-14 2014-15 (Apr-Feb) (Apr-Feb) (QE) Export Target 300.0 350.0 325.0 340.0 Export 306.0 300.4 314.4 284.1 286.6
Import Target Import targets are not fixed Import 489.3 490.7 450.2 408.9 411.8 Trade Deficit 183.3 190.3 135.8 124.8 125.2 Value (Rs. Crores) Export 1,465,959 1,634,318 1,905,011 1,719,888 1,747,451 Import 2,345,463 2,669,162 2,715,434 2,463,480 2,510,824 Trade Deficit 879,504 1,034,844 810,423 743,592 763,373 # GDP(Current 8,832,012 9,988,540 11,345,056 Prices), 2011-12 base year Export as 16.60 16.36 16.79 Percentage of GDP Import as 26.56 26.72 23.93 Percentage of GDP Trade deficit 9.96 10.36 7.14 as Percentage of GDP Source: DGCI&S Kolkata, MOSPI
# Figures from Quick Estimate(QE)
# # Export target for the financial year 2014-15
# Figures from the revised base year 2011-12. GDP data is not available for (Apr-Feb)
The details of export and import, commodity-wise/country-wise and quantity are available in the DGCI&S publication in CD from namely Monthly Statistics of Foreign Trade of India Vol. I and Vol II. Such CDs are regularly sent to Parliament Library by DGCI&S, Kolkata.
(c) & (d) The trade deficit and percentage of Trade deficit to GDP over the period have shown a mixed trend. However, one of the prime contributors of trade deficit is import of Petroleum & Crude oil, accounting for nearly one-third of countrys total imports, which is critical for the growth of the economy and meeting the energy needs of the country. As such, these imports are essential in nature and do not cause negative impact on the economic condition of the country.
(e) & (f) The Government assesses the export performance on a continuous basis and need based corrective measures to boost exports are taken. To diversify the export sectors and reduce dependence on traditional markets, schemes like Focus Market Scheme, Market Linked Focus Product Scheme, Focus Product Scheme, Vishesh Krishi and Gram Udyog Yojana (VKGUY) are implemented. The Government is also implementing other schemes for promotion of exports and improving the competitiveness of the industry, e.g. Market Development Assistance (MDA) scheme, Market Access Initiative (MAI) scheme.
In order to evolve a strategy to boost exports, achieve export targets and manage trade deficit, intensive consultations are held with Export Promotion Councils (EPCs), Apex Chambers of Trade and Industry, various Union Ministries / Departments and State Governments and with Board of Trade from time to time.
Development of strategy for product and market diversification is a continuous process through market study initiatives to identify product tariff lines and potential markets. Issues relating to tariff/non-tariff barriers are also actively taken up during bilateral meetings and Institutional dialogues and accordingly Foreign Trade Agreement (FTA) are signed between countries. As a result of various measures and steps taken by the Government, Indias exports basket has expanded substantially and share of export to the emerging economies has also increased over the period.
