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India's overall exports grow by 17.01 per cent

ANI  |  New Delhi [India] 

India's overall exports including merchandise and services have increased a positive growth of 17.01 per cent during April-September of 2018-19 as compared to the corresponding period of previous year, of State for Commerce and Industry CR informed the in a written reply.

"During April-September of 2017-18, India's total export value was pegged at US $ 226.08 billion, which increased to US $ 264.54 billion during April-September period of the current financial year," the said.

"In order to boost India's exports, the has taken several measures through new Foreign Trade Policy (FTP) 2015-20 launched on April 1, 2015, its mid-term review released on December 5, 2017, and other policy measures taken from time to time," he added.

According to Chaudhary, FTP 2015-20 provides a framework for increasing exports of goods and services as well as the generation of employment and increasing value addition in the country, in line with the Make in India, Digital India, Skill India, Start-up and Ease of doing initiatives.

"The main policy objective is to enable to respond to the challenges of the external environment keeping in view the rapidly evolving international trading architecture and make trade a major contributor to the country's economic growth and development," he said.

"The policy provides the framework for promotion of exports through schemes of incentives on exports and duty remission or exemption on inputs for export production," added the minister, saying that the policy had introduces two new schemes, namely, 'Merchandise Exports from Scheme (MEIS)' for improving export of specified goods by merging five earlier schemes for better coherence and 'Services Exports from India Scheme (SEIS)' for increasing exports of notified services.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 12 2018. 23:35 IST