Wednesday, 18 December 2013

Long Term Vision on Trade and Commerce

The long term vision of the government is to make India a major player in world trade by 2020 and assume a significant role in international trade organizations.
The policy tools being adopted in this context are: the Strategy Paper focussing on the targeted commodity and country wise strategy in the medium term and the Strategic Plan / vision and the Foreign Trade Policy in the long run.
In view of the above mentioned vision, the Plan Schemes of Department of Commerce have been accordingly formulated. These are:

  • Infrastructure for facilitating exports (ASIDE)
  • Market Assistance  Initiative (MAI)
  • Increase competitiveness by covering export risks: Export Credit Guarantee Corporation (ECGC), National Export Insurance Account (NEIA)
  • Support to institutions for capacity building: Indian Institute of Foreign Trade (IIFT), Centre for WTO Studies (CWTOS), Indian Institute of Packaging (IIP).
  • Promote, Process & Generate livelihoods in the Agriculture, Marine and Plantation sectors and skill development for exports : Agricultural Products Export Development Authority (APEDA), Marine Products Export Development Authority (MPEDA), Tea, Coffee, Rubber, Cashew, Spices Board and Footwear Design and Development Institute (FDDI)
  • Promotion of e-Governance and capacity development (DGFT (Directorate General of Foreign Trade), DGCI&S (Directorate General of Commercial Intelligence and Statistics), DGS&D (Directorate General of Supplies and Disposal) procurement).

Views of the Private Sector are incorporated through Stakeholder consultations in the form of Board of Trade (BoT), Export Promotion Board, Inter-State Trade Council, Industry Chambers  such as the  Confederation of Indian Industry(CII), Federation of Indian Chambers of Commerce and Industry(FICCI), Associated Chambers of Commerce and Industry of India(ASSOCHAM) and Federation of Indian Export Organizations (FIEO), Commodity Boards and Export Promotion Councils, as well as, sub-sectoral trade bodies.

Some of the issues highlighted have been: infrastructural constraints, high transaction costs, need for technology upgradation, shortage of skilled manpower, rationalization of import duty on inputs / intermediate products for ensuring competitiveness of domestic industry, etc.
The information was given by the Minister of State in the Ministry of Commerce and Industry Dr. E.M. Sudarsana Natchiappan in Rajya Sabha today.

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