Lok Sabha Question No. 2792 (UNSTARRED), answered on 2023-12-20
Subject: Demand of Indian Products in Global Market
Ministry: COMMERCE AND INDUSTRY
Asked by: Maddila  Gurumoorthy

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

## LOK SABHA UNSTARRED QUESTION NO. 2792 TO BE ANSWERED ON 20/12/2023

## DEMAND OF INDIAN PRODUCTS IN GLOBAL MARKET

## 2792.  SHRI MADDILA GURUMOORTHY:

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

- (a) whether the Government is aware of the fact that the credibility and demand of Indian products is increasing in the global market;
- (b) if so, the details thereof; and
- (c) the steps being taken to provide access of global markets to industries and farmers and the schemes being proposed by the Government in this regard?

## ANSWER

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

- (a) & (b) Export from India is around 676 billion US $ in 2021-22 and 776 billion US $ in 2022-23; which was around 500 billion US $ for previous years. This itself is a proof that creditability and demand of Indian products is increasing in global market. Further, India has signed Free Trade Agreement (FTA) with UAE and Australia last year and many other FTAs are  under  negotiation.  The  interest  shown  by  our  trade  partners  in  ongoing  FTA  with  our country is an indicator that demand for Indian products is increasing in global market.
- (c) Government has taken following export promotion initiatives to boost exports:
- i. New Foreign Trade Policy has been launched on 31 st March, 2023 and came in to effect from 1 st April, 2023.
- ii. Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended upto 30-06-2024 with total allocation of Rs. 12038 crores.

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 sector 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. With  effect from 15.12.2022, uncovered sectors like pharmaceuticals, organic and inorganic chemicals and article of iron and steel has been covered under RoDTEP. Similarly, anomalies in 432 tariff lines have been addressed and the corrected rates have been implemented with effect from 16.01.2023.

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

vii. Districts  as  Export  Hubs  initiative  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.

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

ix. Regular monitoring of export performance with Commercial Missions abroad, Export Promotion Councils, Commodity Boards/ Authorities and  Industry Associations and taking corrective measures from time to time.

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