a) whether the Government has announced incentives to push exports of various items and tap markets in Japan and China;
b) if so, the details thereof;
c) whether the Government has prepared any action plan to tap markets in Japan and China;
d) if so, the details thereof; and
e) the extent to which these incentives are likely to give boost to exports and help in recovery of the sectors which continue to show decline in exports?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (INDEPENDENT CHARGE)
(SMT. NIRMALA SITHARAMAN)
(a) Yes, Madam.
(b) Japan and China have been identified as emerging and Focus markets (Country Group B) along with other countries under Merchandise Exports from India Scheme (MEIS). The scheme has been notified w.e.f. 1.4.2015. Under this scheme, 5012 tariff lines are provided reward rates varying from 2-5%. Details of the tariff lines along with MEIS are available at the website of the Directorate General of Foreign Trade at http://[email protected].
(c) & (d) In order to boost exports and to maintain balance of trade with the North Asian Countries, efforts are being made to increase exports to these countries by diversifying the trade basket with exphasis on manufactured goods and solving market access issues and tackle other non-tariff barriers particularly with Japan and China, through bilateral meetings and institutional dialogues. Indian exporters are encouraged to participate in major trade fairs in Japan and China to show-case Indian products in these markets.
(e) The reward/incentives provided by the Government makes the exporters competitive in the international market and may help in boosting the exports and help in recovery of the sectors which continue to show decline in exports.
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