Question : New Export Policy

(a) whether the Government is working on new Export Policy within the country and if so, the details thereof;
(b) whether the Government has received any proposal from some of the States including Maharashtra and West Bengal to promote shipping and port sector within the country;
(c) if so, the details thereof, State/UTwise and the action taken by the Government in this regard;
(d) whether the Government has tied up with the Ministry of Shipping in this regard and if so, the details thereof; and
(e) the amount of earnings made through exports during each of the last three years along with the amount spent on imports during the said period?

Answer given by the minister

THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY
(SHRI C. R. CHAUDHARY)

(a) The Foreign Trade Policy 2015-20 was launched on April, 2015. The Mid Term Review of the Foreign Trade Policy 2015-20 was released on 05.12.2017. The Foreign Trade Policy is dynamic in nature and changes in policy and procedure are regularly carried out as and when required through Notifications and Public Notices. Key changes in the mid-term review of the Foreign Trade Policy are as under:
• MEIS (Merchandise Exports from India Scheme) was increased by 2% to MSMEs / labour intensive industries involving an additional outlay of Rs.7310 crore that includes Rs. 2743 crore incentives for two sub-sectors of Textiles i.e. ready made garments and made-ups on which MEIS was raised from 2% to 4%. Similarly, the SEIS (Service Export from India Scheme) incentive rate was increased by 2% for all notified services such as Business, Legal, Accounting, Architectural, Engineering, Educational, Hospital, Hotels and Restaurants amounting to Rs. 1140 crore.
• The validity period of the Duty Credit Scrips was increased from 18 months to 24 months to enhance their utility in the GST framework. GST rate for transfer/sale of scrips was reduced to zero from the earlier rate of 12%.
• A new trust based Self Ratification Scheme was introduced to allow duty free inputs for export production under duty exemption scheme for the Authorized Economic Operators (AEOs).
• Issue of working capital blockage of the exporters due to upfront payment of GST on inputs has also been addressed. Exemption of IGST has been allowed to schemes like the Advance Authorization Scheme, Export Promotion Capital Goods Scheme and 100% Export Oriented Unit Scheme for sourcing inputs from abroad apart from Customs Duty. The 26th meeting of the GST Council held on 10th March 2018 has further extended these benefits till 01.10.2018.

(b), (c) & (d) The National Perspective Plan (NPP) for Sagarmala was prepared in consultation with all the maritime states and released in April 2016. The NPP aims to foster port-led development in the country through integrated development of India’s maritime sector through augmentation of capacity of existing ports, improving their efficiency, strengthening evacuation infrastructure and promoting coastal and inland waterways transportation. As part of the Sagarmala Programme, Master Plans have been finalized for the 12 major ports and based on the same, 128 port capacity expansion projects (estimated cost: Rs. 84,395 Cr and capacity creation of 828 MMTPA) have been identified for implementation over next 20 years.
Additionally, the Ministry of Shipping has brought out the Coastal Berth Scheme for part-funding the development of port infrastructure like construction of break-water, preparation of coastal berths / jetties, undertaking capital dredging etc. Under this Scheme, the Ministry has provided funds for 26 projects in the maritime states including Maharashtra and West Bengal.

(e) India’s Export & Import data for last three years and current year upto February, 2018 for Merchandise and upto January, 2018 for Services are as under:
(US$ Millions)
Years Merchandise Export Merchandise Import
2014-15 310338 448033
2015-16 262290 381007
2016-17 275852 384356
2017-18 (Apr-Feb, 18*) 273757 419341
* Provisional




(US$ Millions)
Years Service Export Service Import
2014-15 160370 85929
2015-16 155136 85717
2016-17 160683 95469
2017-18 (Apr-Jan, 18*) 142219 84789
* Provisional
Source: DGCIS, RBI
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