Export Promotion Schemes

Exports are regarded as an engine of economic growth in the wake of liberalization and are also considered as structural reforms in the economy. In recent times India is witnessing a slowdown in the process of exports with its traditional partners. Under these circumstances, we thus need to set in motion strategies and the policy measures which catalyze the growth of exports in several different sectors as well as in newer markets.

The Foreign Trade Policy 2015-20 and other schemes provide promotional measures in order to boost India’s exports with the objective to offset the infrastructural inefficiencies and the associated costs that are involved in order to provide the exporters with a level playing field. 

We help companies check eligibility, prepare documents for the respective scheme, apply in respective department and monetize the benefit for the company. For details of various export promotion schemes please check our services section. 

The Highlights of the policy are below

  • FTP 2015-20 introduces two new schemes, namely ‘Merchandise Exports from India Scheme (MEIS)’ for export of specified goods to specified markets and ‘Services Exports from India Scheme (SEIS)’ for increasing exports of notified services.

  • Duty credit scrips issued under MEIS and SEIS and the goods imported against these scrips are fully transferable.

  • For grant of rewards under MEIS, the countries have been categorized into 3 Groups, whereas the rates of rewards under MEIS range from 2 per cent to 10 per cent. Under SEIS the selected Services would be rewarded at the rates of 5 per cent and 7 per cent.

  • Measures have been adopted to nudge procurement of capital goods from indigenous manufacturers under the EPCG scheme by reducing specific export obligation to 75 percent of the normal export obligation.

  • Measures have been taken to give a boost to exports of defense and hi-tech items.

  • E-Commerce exports of hand loom products, books/periodicals, leather footwear, toys and customized fashion garments through courier or foreign post office would also be able to get benefit of MEIS (for values up to INR 25,000).

  • Manufacturers, who are also status holders, will now be able to self-certify their manufactured goods in phases, as originating from India with a view to qualifying for preferential treatment under various forms of bilateral and regional trade agreements. This ‘Approved Exporter System’ will help manufacturer exporters considerably in getting fast access to international markets.

  • A number of steps have been taken for encouraging manufacturing and exports under 100 per cent EOU/EHTP/STPI/BTP Schemes. The steps include a fast track clearance facility for these units, permitting them to share infrastructure facilities, permitting inter unit transfer of goods and services, permitting them to set up warehouses near the port of export and to use duty free equipment for training purposes.

  • 108 MSME clusters have been identified for focused interventions to boost exports. Accordingly, ‘Niryat Bandhu Scheme’ has been galvanized and re-positioned to achieve the objectives of ‘Skill India’.

The New Foreign Trade Policy of India FTP 2021-2026 is due shortly by the Commerce Ministy of India