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India’s exports during the last three years are as under:
Year | Exports (Merchandise +Services) (USD Billion) | Growth (%) |
2017-18 | 498.61 | 13.31 |
2018-19 | 538.08 | 7.91 |
2019-20 | 526.55 | -2.14 |
Source: DGCI&S& RBI
Eexport targets are set for Special Economic Zones (SEZs)/Export Oriented Units (EOUs). The SEZ units/EOU units are under obligation to achieve positive Net Foreign Exchange (NFE) earning to be calculated cumulatively for a period of 5 years from the commencement of production. The total exports from SEZs and EOUs during the last two years and the current year is as under:
(Rs.in crore)
Year | SEZs export | EOUs export |
2018-19 | 7,01,179 | 87371.74 |
2019-20 | 7,96,669 | 102492.92 |
2020-21 (upto 31.12.2020) | 5,53,396 | 65602.04* |
* Provisional
Merchandise exports to Europe and other major western countries (USA, Canada and Mexico) exhibited a positive growth trend in 2017-18 and 2018-19. Year-wise exports during the last three years are as under:
(in USD Billion)
Countries | 2017-18 | Growth% | 2018-19 | Growth% | 2019-20 | Growth% |
Europe | 60.35 | 13.16 | 64.38 | 6.68 | 60.56 | -5.93 |
Other Western Countries | ||||||
USA | 47.88 | 13.42 | 52.41 | 9.46 | 53.09 | 1.30 |
Mexico | 3.78 | 9.30 | 3.84 | 1.55 | 3.62 | -5.67 |
Canada | 2.51 | 25.05 | 2.85 | 13.78 | 2.85 | 0.01 |
Total | 54.17 | 13.61 | 59.10 | 9.10 | 59.56 | 0.79 |
Source: DGCI&S
As per World Bank data, some of the major sectors that showed a decline in global demand during 2019 (latest data available) include chemicals, fuels, textiles & clothing, machinery & electricals, metals and transportation. Of these, India’s exports showed a decline in respect of fuels, textiles & clothing and metals during the same period.
The following are some of the key steps taken by Government to increase exports:
This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Hardeep Singh Puri, in a written reply in the Lok Sabha yesterday.
Net Foreign Exchange obligation for SEZ/EOU units drives export compliance alongside new RoDTEP and facilitation measures. SEZ and EOU units are subject to a Net Foreign Exchange obligation calculated cumulatively over five years from commencement of production; government measures to support exports include extension of the Foreign Trade Policy and Interest Equalization Scheme, launch of the Remission of Duties and Taxes on Exported Products (RoDTEP), a Common Digital Platform for Certificates of Origin, an Agriculture Export Policy, promotion of Champion Services Sectors, district export hub initiatives, enhanced trade promotion by missions, and COVID era financial relief for exporters, especially MSMEs.Press 'Enter' after typing page number.