(a) whether there has been a decline in exports due to corona pandemic during the previous year;
(b) if so, the percentage of decline in comparison to the last five years;
(c) the factors responsible for decline in exports; and
(d) the action being taken to make up for the decline in exports?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY
(SHRI HARDEEP SINGH PURI)
(a) & (c): The values of India’s overall exports (merchandise and services) during the last five years and the current year along with the percentage change over the corresponding period of the previous year are given below:
Years Value of Overall Export
(merchandise plus services)
(in US$ Billion) % Change
2015-16 416.60 --
2016-17 440.05 5.63
2017-18 498.62 13.31
2018-19 538.08 7.91
2019-20 526.55 -2.14
2019-20 (Apr-Nov) 351.83 --
2020-21 (Apr-Nov) 304.53 -13.45
Source: DGCI&S, Kolkata (Figures for the year 2020-21 are provisional)
The above table reveals that India’s overall export declined by 13.45% during April-November 2020-21 as compared to April-November 2019-20. There has been a decline in exports due to various global and domestic factors such as demand and supply in domestic and international markets, worldwide lockdown during corona pandemic, currency fluctuations, international prices, etc.
(d): In order to check decline in exports and give relief to businesses amidst the stress caused by the Covid-19 pandemic, Government of India has introduced following several relaxations and extensions in deadlines etc.
1) Foreign Trade Policy (2015-20) extended by one year i.e. upto 31-3-2021 due to the COVID-19 pandemic situation.
2) Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended by one year i.e. upto 31-3-2021.
3) A new Scheme, Remission of Duties and Taxes on Exported Products (RoDTEP), has been launched with effect from 01.01.2021.
4) Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase FTA utilization by exporters.
5) A comprehensive “Agriculture Export Policy” to provide an impetus to agricultural exports related to agriculture, horticulture, animal husbandry, fisheries and food processing sectors, is under implementation.
6) Promoting and diversifying services exports by pursuing specific action plans for the 12 Champion Services Sectors.
7) Promoting districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters/manufacturers to generate employment in the district.
8) Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.
9) Package announced in light of the covid pandemic to support domestic industry through various banking and financial sector relief measures, especially for MSMEs, which constitute a major share in exports.
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