Foreign Trade Statement

Foreign trade policy updates boost export incentives, streamline authorisations, expand export infrastructure and implement WTO trade facilitation commitments. The Mid Term Review of the Foreign Trade Policy 2015-20 establishes a whole of government export promotion framework that couples market and product diversification with procedural simplification and infrastructure support. Key operative measures include temporary enhancement of MEIS and SEIS rates for designated labour intensive and MSME sectors, Interest Equalisation on export credit, self declaration Advance Authorisations for certain new products (for Authorised Economic Operators), a ROSL route to refund un rebated taxes, creation of a Data Analytics Division, implementation of the Trade Facilitation Agreement through a National Committee, and launch of the Trade Infrastructure for Export Scheme (TIES).