Lok Sabha Question No. 2385 (UNSTARRED), answered on 2022-12-21
Subject: Exploring of New Markets
Ministry: COMMERCE AND INDUSTRY
Asked by: Raja Amareshwara Naik, Rajveer (Raju Bhaiya) Singh, Bhola Singh, T. R. Paarivendhar, Vinod Kumar Sonkar, Sukanta Majumdar

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY (DEPARTMENT OF COMMERCE)

## LOK SABHA UNSTARRED QUESTION NO. 2385 TO BE ANSWERED ON 21 st   DECEMBER, 2022

## EXPLORING OF NEW MARKETS

2385.    SHRI RAJA AMARESHWARA NAIK:

SHRI RAJVEER SINGH (RAJU BHAIYA):

SHRI BHOLA SINGH:

DR. T.R. PAARIVENDHAR:

SHRI VINOD KUMAR SONKAR:

DR. SUKANTA MAJUMDAR:

Will the Minister of COMMERCE & INDUSTRY ( वाणिज्य एवं उद्योग मंत्री ) be pleased to state:

- (a) whether the Ministry has devised a multi-pronged plan that includes offering incentives and exploring new markets to revive outbound shipments amid a demand slump in major markets;
- (b) if so, the details thereof;
- (c) whether the Remission of Duties and Taxes on Export Products (RoDTEP) is also being considered to be extended to the steel, pharmaceutical and chemical sectors;
- (d) if so, the details thereof;
- (e) whether  the  Ministry  is  also  exploring  free-trade  agreement  opportunities  beyond  the traditional  markets  such  as  with  Common  Market  for  Eastern  and  Southern  Africa, Economic  Community  of  West  African  States  and  Latin  American  countries  such  as Mercosur, Chile, Colombia and Peru; and
- (f) if so, the details thereof and the other steps being taken by the Ministry in this regard?

## ANSWER

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## THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SMT. ANUPRIYA PATEL)

(a) & (b): The Government regularly reviews export performance of different sectors and proactive measures are taken from time to time for boosting export performance. Following steps have been taken in this regard:

- (i) Foreign Trade Policy (2015-20) extended upto 31-03-2023.

(ii)  Interest  Equalization  Scheme  on  pre  and  post  shipment  rupee  export  credit  has  also  been extended upto 31-03-2024.

(iii) Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme.

(iv)  Rebate  of  State  and  Central  Levies  and  Taxes  (RoSCTL)  Scheme  to  promote  labour oriented textile export has been implemented since 07.03.2019.

(v)  Remission  of  Duties  and  Taxes  on  Exported  Products  (RoDTEP)  scheme  has  been implemented since 01.01.2021.

(vi)  Common  Digital  Platform  for  Certificate  of  Origin  has  been  launched  to  facilitate  trade and increase Free Trade Agreement (FTA) utilization by exporters.

(vii)  12  Champion  Services  Sectors  have  been  identified  for  promoting  and  diversifying services exports by pursuing specific action plans.

(viii) Districts as Export Hubs has been launched 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.

(ix) Active role of Indian missions abroad towards promoting India's trade, tourism, technology and investment goals has been enhanced.

(x)  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.

(xi) Pursuing Free Trade Arrangements (FTAs) and economic partnerships in certain international markets.

(c) & (d): RoDTEP scheme has been extended for exports made by Chemicals, Pharmaceuticals and articles of Iron and Steel sector belonging to Chapter 28, 29, 30 & 73, with effect from 15.12.2022.

(e) & (f): India  has  so  far  signed  13  Free  Trade  Agreements  (FTAs)  and  6  Preferential Trade Agreements (PTAs) with its trading partners for preferential access for its  products.  India  has  recently  signed  3  agreements  namely  India-Mauritius  Comprehensive Economic  Cooperation  and  Partnership  Agreement,  India-UAE  Comprehensive  Partnership Agreement and India-Australia Economic Cooperation and Trade Agreement. Further, India is also actively engaged in FTA negotiations with some of its trading partners including the United Kingdom, European Union and Canada. Trade negotiations with partner countries is a dynamic and continuous process for obtaining better market access for India's exports and other business opportunities.

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