Lok Sabha Question No. 36 (UNSTARRED), answered on 2022-12-07
Subject: Import-Export and Trade Surplus
Ministry: COMMERCE AND INDUSTRY
Asked by: C. R. Patil, Pratap Chandra Sarangi, Brijbhushan Sharan Singh, P.P. Chaudhary, Ramapati Ram Tripathi, Sangamlal Kadedin Gupta

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

## LOK SABHA UNSTARRED QUESTION NO. 36 TO BE ANSWERED ON 07 th   DECEMBER, 2022

## IMPORT-EXPORT AND TRADE SURPLUS

## 36. SHRI C.R. PATIL:

SHRI PRATAP CHANDRA SARANGI:

SHRI BRIJBHUSHAN SHARAN SINGH:

SHRI P.P. CHAUDHARY:

DR. RAMAPATI RAM TRIPATHI:

SHRI SANGAM LAL GUPTA:

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

- (a) the details of India's total import-export and trade surplus during the last five years;
- (b) whether the Government has formulated an Action Plan to enhance India's trade surplus; and
- (c) if so, the details thereof?

## ANSWER

okf.kT; ,oa m|ksx ea=ky; esa jkT; ea=h ¼Jherh vuqfiz;k iVsy½

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

- (a) The details of India's overall export (merchandise plus services), import and trade balance in the last five years and current year are as follows:

| Year    |   Export (Value in US$ Billions) |   Import (Value in US$ Billions) |
|---------|----------------------------------|----------------------------------|
| 2016-17 |                           440.05 |                           480.21 |
| 2017-18 |                           498.62 |                           583.11 |
| 2018-19 |                           538.08 |                           640.09 |
| 2019-20 |                           526.55 |                           602.98 |
| 2020-21 |                           497.9  |                           511.12 |
| 2021-22 |                           676.53 |                           760.06 |

Source: RBI and DGCI&S, Kolkata.

(b) & (c) : The Government has taken the following measures to  enhance India's export and trade balance:

- (i) Foreign Trade Policy (2015-20) extended by 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.

*****