Steps to boost exports, startups part of the 100-day program of the Ministry of Commerce for new governments

NEW DELHI: Measures To Stimulate Export And Promoting Startups Is Part Of The 100-day Program Prepared By The Ministry Of Commerce And Industry For The New Government, An Official Said.

The New Government Is Expected To Assume Office By The End Of This Month.

These Proposals Would Be Presented To The New Government, The Official Added.

The Ministry Has Proposed To Set Up A Separate One Logistics Department To Be Headed By A Secretary With A View To Enhancing Growth Of The Sector, Which Is Fundamental To Boost

Extensive coordination among different stakeholders of the Logistics sector including roads, railways, shipping, civil aviation, and states is required.

Currently, there is a separate wing of Logistics , headed by a special secretary in the commerce department.

It Has Also Been Proposed For A New World Trade Organization (WTO) -compliant Export Incentive Scheme For Goods Shipments To Replace The Existing MEIS.

At Present, Exporters Or Goods Avail Incentives Under The Merchandise Export From India Scheme (MEIS). In This, The Government Provides Duty Benefits Depending On Product And Country.

Since 2011-12, India's Export Have Been Hovering At Around $ 300 Billion. During 2018-19, Foreign Shipments Grew By 9 Per Cent To $ 331 Billion.

Promoting Export Helps Create A Country To Create Jobs, Boost Manufacturing And Earn More Foreign Exchange.

Similarly, The Department For Promotion Of Industry And Internal Trade Prepared A Vision Document To Promote Growth Or Start-ups And Steps To Further Improve Ease Of Doing Business To Attract Both Domestic And Foreign Investments.

During April-December 2018-19, Foreign Direct Investments Into India Dipped By 7 Per Cent To $ 33.5 Billion.