SME Times News Bureau | 18 Mar, 2020
India's
merchandise exports has increased from 303.53 US$ billion in 2017-18 to 330. 07
US$ billion in 2018-19, registering a positive growth of 8.75%, an official
statement said on Wednesday.
India’s export
sector faced many challenges post 2013-14 period due to accentuation of the
global economic / financial crisis.
However, exports
have been growing on a secular basis since 2016-17 for almost three years and
total exports reached a new peak of more than half a trillion dollars for the
first time in 2018-19.
The
Foreign Trade Policy (2015-20), launched on 1st April 2015, provides a framework for increasing exports of goods
and services as well as generation of employment and increasing value addition
in the country, in line with the ‘Make in India’, ‘Digital India’, ‘Skill
India’, ‘Startup India’ and ‘Ease of Doing Business’ initiatives.
Representations/suggestions
are received from trade organizations/export promotion councils from time to
time for promotion of exports which are taken into consideration as part of the
regular ongoing process of review and reform of trade policies, the statement
added.