Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    No Records Found
    ❯❯
    MaximizeMaximizeMaximize
    0 / 200
    Expand Note
    Add to Folder

    No Folders have been created

      +

      Are you sure you want to delete "My most important" ?

      NOTE:

      News
      Showing Results for :
      Reset Filters
      Results Found:
      AI TextQuick Glance by AIHeadnote
      Show All SummariesHide All Summaries
      No Records Found

      News

      Back

      All News

      Showing Results for :
      Reset Filters
      Showing
      Records
      ExpandCollapse
        No Records Found

        News

        Back

        All News

        whatsappJoin Channel
        Showing Results for : Reset Filters
        Case ID :
        Customs, DGFT & SEZ

        India's Share in Global Trade

        November 28, 2016

        📋
        Contents
        Note

        Note

        -

        Bookmark

        print

        Print

        Login to TaxTMI
        Verification Pending

        The Email Id has not been verified. Click on the link we have sent on

        Didn't receive the mail? Resend Mail

        Don't have an account? Register Here

        India’s performance in World trade based on the WTO database which provides the data calendar year-wise is given as follows:

        India's Trade Performance: Percentage Share in World Trade

        Years

        India's Share in World Merchandise Exports

        India's Share in World Commercial Services Exports

        India's Share in World Merchandise Plus Services Exports

        2011

        1.7

        3.2

        1.9

        2012

        1.6

        3.2

        1.9

        2013

        1.7

        3.1

        2.0

        2014

        1.7

        3.1

        2.0

        2015

        1.6

        3.3

        2.0

        Source:  World Trade Organization

           The Government has launched several schemes and measures to increase India’s share in global trade, which are as follows:

        (i)     The Merchandise Exports from India Scheme (MEIS) was introduced in the Foreign Trade Policy (FTP) 2015-20 on April 1, 2015 with 4914 tariff lines at 8 digit levels. The Government has extended the market coverage to all countries in respect of 7914 tariff lines. The revenue forgone under the scheme (MEIS) has increased from ₹ 22000 Crore to ₹ 23500 Crore per annum.

        (ii)    The Government launched Services Exports from India Scheme (SEIS) in the FTP 2015-2020.  The Scheme provided rewards to service providers of notified services who are providing service from India.

        (iii)  The Government is implementing the Niryat Bandhu Scheme with an objective to reach out to the new and potential exporters including exporters from Micro, Small & Medium Enterprises (MSMEs) and mentor them through orientation programmes, counseling sessions, individual facilitation, etc., on various aspects of foreign trade for being able to get into international trade and boost exports from India.  

        (iv) By way of trade facilitation and enhancing the ease of doing business, Government reduced the number of mandatory documents required for exports and imports to three each, which is comparable with international benchmarks. The trade community can file applications online for various trade related schemes. Online payment of application fees through Credit/Debit cards and electronic funds transfer from 53 Banks has been put in place.

        (v)    Interest Equalization Scheme on pre & post shipment credit launched to provide cheaper credit to exporters.

        (vi) Further, the Government continues to provide the facility of access to duty free raw materials and capital goods for exports through schemes like Advance Authorization, Duty Free Import Authorization (DFIA), Export Promotion Capital Goods (EPCG) and drawback / refund of duties.

         The details of the sectors covered under MEIS are given below:

        S. No.

        Product Category

        1

        Fruits, Flowers and Vegetables

        2

        Tea, Coffee, Spices and Cashew

        3

        Cereals preparation, Seeds, Shellac and Essential oils

        4

        Processed foods, Cocoa products and Beverages

        5

        Eco Friendly products that add value to waste

        6

        Remaining Agriculture and Animal Products

        7

        Poultry & Dairy Products

        8

        Marine Products

        9

        Wines and Beer & Liqueur

        10

        Pharmaceuticals, Surgical and Herbal Products

        11

        Chemicals

        12

        Plastic Articles

        13

        Moulded and Extruded goods, Rubber, Ceramic and Glass

        14

        Auto Tyres and Tubes

        15

        Wood , Paper and Stationary Products

        16

        Handloom, Coir, Jute products and Technical Textiles

        17

        Carpets

        18

        Handicrafts

        19

        Textile and Garments

        20

        Sports Goods

        21

        Finished leather, Leather Garments and Goods, Saddlery Items and Footwear

        22

        Misc Manufactured articles, Auto seats, Steel furniture, Prefabs, Lighters, Mattresses etc.

        23

        Furniture and Wood Articles

        24

        Iron, Steel and Base Metal Products

        25

        Industrial Machinery, Engineering items, IC Engines, Machine tools and Parts

        26

        Hand Tools, Cutting Tools and Implements Made of Metals

        27

        Pumps of All Types

        28

        Automobiles, Two wheelers, Bicycles, Ships and Planes

        29

        Auto Components/Parts

        30

        Telecom, Computer and Electronics Products

        Source:  World Trade Organization 

        Merchandise Exports from India Scheme (MEIS) incentivises exports made to all countries w.e.f May, 2016.

        This information was given by the Commerce and Industry Minister  Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.

        Export incentive schemes expand market coverage and provide duty concessions and credit support to boost exports. The policy framework advances export growth through MEIS incentives across expanded tariff lines and sectors with extended market coverage, SEIS rewards for notified service exporters, and an Interest Equalization Scheme to lower export finance costs. Trade facilitation measures reduce mandatory documents and enable online filings and payments. Duty free input and capital goods access is provided via Advance Authorization, DFIA, EPCG and drawback/refund mechanisms. Niryat Bandhu offers mentoring and facilitation for new and MSME exporters.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Export incentive schemes expand market coverage and provide duty concessions and credit support to boost exports.

                                The policy framework advances export growth through MEIS incentives across expanded tariff lines and sectors with extended market coverage, SEIS rewards for notified service exporters, and an Interest Equalization Scheme to lower export finance costs. Trade facilitation measures reduce mandatory documents and enable online filings and payments. Duty free input and capital goods access is provided via Advance Authorization, DFIA, EPCG and drawback/refund mechanisms. Niryat Bandhu offers mentoring and facilitation for new and MSME exporters.





                                Note: It is a system-generated summary and is for quick reference only.

                                Topics

                                ActsIncome Tax
                                No Records Found