The Government has undertaken various export promotion initiatives:
- A new Foreign Trade Policy was launched on March 31, 2023, and took effect from April 1, 2023.
- The Interest Equalization Scheme on pre and post shipment rupee export credit has been extended until June 30, 2024, with an additional allocation of Rs. 2500 crores.
- Export promotion schemes like the Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme provide assistance for promoting exports.
- The Rebate of State and Central Levies and Taxes (RoSCTL) Scheme has been active since March 7, 2019, to promote labor-oriented sector exports.
- The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, operational since January 1, 2021, was expanded to cover previously uncovered sectors like pharmaceuticals, organic and inorganic chemicals, and articles of iron and steel from December 15, 2022.
- A Common Digital Platform for Certificate of Origin was launched to facilitate trade and increase Free Trade Agreement (FTA) utilization.
- The Districts as Export Hubs initiative was introduced to identify products with export potential in each district, address export bottlenecks, and support local exporters to enhance employment.
- Indian missions abroad have been actively involved in promoting India’s trade, tourism, technology, and investment objectives.
- Regular monitoring of export performance is carried out, and corrective measures are implemented in collaboration with Commercial Missions abroad, Export Promotion Councils, Commodity Boards/Authorities, and Industry Associations.
Moreover, the Government has implemented strategies to bolster domestic markets and expand their global reach:
- Pradhan Mantri Gati Shakti
- National Logistics Policy
- National Industrial Corridor Development Programme
- GIS-enabled Land Bank – India Industrial Land Bank (IILB)
- Industrial Park Rating System (IPRS)
- Productivity Linked Incentive (PLI)
- Make In India
- Startup India
- One District One Product
- National Single Window System
The Foreign Trade Policy (FTP), 2023 introduced a new chapter aimed at promoting e-Commerce exports. The outreach events under the Districts as Export Hubs initiative focus on encouraging e-commerce exports of identified goods from districts in collaboration with stakeholders such as e-commerce platforms, government departments, banks, MSME Ministry, Export Promotion Councils, and local trade associations. This information was shared by Union Minister of State for Commerce and Industry, Smt Anupriya Patel, in a written Lok Sabha reply.